Next Mediaworks Limited — Important, 07-02-2025: General Updates

Next Radio Limited (NRL) has issued 21,20,00,453 equity shares at Rs. 10 each as part of HT Media Limited’s (HTML) exercise of conversion rights concerning an outstanding loan of INR 212.00 Cr. As a result of this share allotment, NRL is no longer a subsidiary of Next Mediaworks Limited.

The pre-conversion shareholding for HTML was 48.60% (3,68,08,001 shares), which post-conversion rose to 86.47% (24,88,08,454 shares). Meanwhile, Next Mediaworks’ stake decreased from 51.40% (3,89,32,286 shares) to 13.53%. The implications include a significant shift in ownership structure, consolidating HTML's control over NRL. Investors should monitor how this transition may influence NRL's strategic direction moving forward.