Entertainment Network offloads three radio stations for Rs 12.6 crore

MUMBAI: Entertainment Network (India) Ltd is selling three of its radio stations to Abhijit Realtors & Infraventures Pvt Ltd in a Rs 12.6 crore deal, the company disclosed to stock exchanges on 16 November.
The transaction covers FM stations in Kanpur (91.9 FM), Lucknow (107.2 FM) and Nagpur (91.9 FM)—though not the intellectual property or trademarks. 

The three stations generated a mere Rs 2.85 crore in turnover during the last financial year, representing just 0.55 per cent of the company’s total revenue. Their net worth contribution was negligible.

Abhijit Realtors, incorporated in 2007 with a paid-up capital of Rs 2.7 crore, operates in real estate, radio and entertainment. The buyer is not connected to Entertainment Network’s promoter group. The deal includes Rs 3 crore upfront at term sheet execution, with the balance paid in tranches.

The committee of directors approved the memorandum of understanding at a 25-minute meeting on Saturday. Completion is expected by 30 September 2026, subject to approval from the ministry of information and broadcasting and other conditions.

Entertainment Network’s shareholding pattern remains unchanged. The company’s strategy is clear: monetise assets that don’t move the needle, and move on.