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Adlabs to demerge FM Radio business
MUMBAI:
The board of directors of Adlabs Films at a meeting held on Sunday approved the proposal for demerger of the FM Radio business to a wholly owned subsidiary (SPV). The scheme envisages issue of pro-rata shares by the SPV to the shareholders of Adlabs Films in the ratio of two shares of the SPV for every one share of Adlabs Films. The demerged company is proposed to be separately listed on the Bombay and National stock exchanges. The scheme also envisages amalgamation/ merger of two subsidiaries of Adlabs Films, namely, Entertainment One (India) Ltd and Mukta Adlabs Digital Exhibition Pvt. Ltd. with Adlabs Films, says an Adlabs Films release.
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