Esha Media Research Ltd — Updates, 01-01-1970: Company Update

Opulus Bizserve Private Limited has announced a mandatory open offer to acquire up to 26% of Esha Media Research Limited's emerging voting capital, equivalent to 22.90 lakh shares, at ₹15 per share. The total consideration for this offer is ₹3.43 Crore. This move follows Opulus Bizserve's plan to increase its stake through a preferential share issue and a share purchase agreement, aiming to gain control of Esha Media. Post-offer, Opulus Bizserve's shareholding in the media monitoring company is expected to reach 59.57%. While Opulus Bizserve, an investment advisory, is profitable, Esha Media has reported consistent losses and negative net worth. Independent directors will provide their view on the offer.