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Tag: LMIL

  • Hindustan Media Ventures to invest in emerging companies across diverse sectors

    Hindustan Media Ventures to invest in emerging companies across diverse sectors

    MUMBAI: It’s getting hungry to foray into new areas.  Hindustan Media Ventures Limited (HMVL) has announced strategic investments totalling over Rs 65 crore across four promising companies in sectors ranging from sexual wellness and sports to manufacturing and food technology. The move aims to leverage the company’s media assets while supporting the growth of these emerging businesses.

    Investment Details:
    Neema Consumer Global Pvt Ltd (“NotShy”)
    HMVL will invest up to Rs 7.01 crore in NotShy, a direct-to-consumer (D2C) sexual wellness brand launched in July 2024. The company, which currently operates through its website and other marketplaces, previously conducted business through Neema Sales LLP. The investment will be in the form of equity shares or convertible preference shares, with the final shareholding determined upon conversion.

    Atlanture Sports Pvt Ltd
    An emerging sports and entertainment company offering sponsorship consulting, event management, and broadcast production services, Atlanture was incorporated in February 2020. HMVL has approved an investment of up to Rs 21.02 crore. The company recorded revenues of Rs 2.31 crore in FY23 and Rs 2.46 crore in FY24.

    Lord’s Mark Industries Ltd (LMIL)
    Founded in the late 1990s by Sachidanand Upadhyay, LMIL operates in sectors including MedTech, LED-Solar solutions, and paper manufacturing. HMVL has approved an investment of up to Rs 31.22 crore, acquiring 0.42 per cent  equity in the initial tranche, with additional shareholding determined at the deal closure. LMIL reported a turnover of Rs 422 crore in FY24.

    Cutting Edge Software Pvt Ltd (“EazyDiner”)
    EazyDiner, a food-tech platform founded in 2014, helps users discover and book restaurant tables. HMVL, already holding a 0.64 per cent stake, will invest an additional Rs 6.01 crore to increase its equity by 0.30 per cent. The company posted revenues of Rs 66.49 crore in FY24.
     

  • LMIL reverses salary cuts effective 1 September

    LMIL reverses salary cuts effective 1 September

    Mumbai: In a piece of good news for the employees at Living Media India Ltd (LMIL), founder and chairman Aroon Purie has announced the organisation’s decision to reverse the salary cuts imposed last year amid the pandemic.

    Apart from the over and above the Ex-Gratia Award given recently, the salary reductions for all the staff will be reversed, effective 1 September 2021, informed Purie in a letter written to the entire staff.

    Purie said the reduction of salaries in June 2020, was the “most painful decision” that he had to make in the 46 years he has worked in India Today, which is published by LMIL. “As you know, even before the pandemic, the magazine industry was under severe stress. With the economy contracting, advertising, our primary source of revenue, virtually collapsed, plus distribution was impacted due to corona lockdowns. The only way to survive was to reduce costs,” he wrote.

    Purie also thanked his employees for working through the crisis undeterred, and ensuring that the magazine did not miss a single issue, and maintain the quality at the same time.

    “You have shown courage, resourcefulness, forbearance and ingenuity. While we are nowhere near pre-COVID levels, or expect to be there in the foreseeable future, we must move on and adjust to a new reality. I have faith in our strong brands, content, our team’s belief in the magazine and our will to succeed,” he wrote.

    Purie highlighted that despite the churn in the media landscape, magazine stories have a profound and lasting impact. “Advertisers see that too. I hope more will. The good times will return. They have to. We will all then progress and prosper with our magazines,” he added. 

  • India Today Online is TVTN’s wholly-owned subsidiary now

    MUMBAI: India Today Online Private Limited (ITOPL) has now become a wholly-owned subsidiary of TV Today Network Ltd.

    India Today Online, on 28 March 2017, issued and allotted 1,99,20,000 equity shares of Rs. 10 each to Living Media India Limited (LMIL) which constitutes 21.01% of the paid-up share capital of ITOPL, against the loans and advances made by LMIL to ITOPL.

    T.V. Today Network (TVTN) entered into an agreement to gift with LMIL on the same date, i.e. 28 March, 2017, under which the TVTN will acquire 1,99,20,000 equity shares of ITOPL of Rs. 10 each (representing 21.01 per cent of the paid-up share capital of ITOPL) from LMIL by way of gift upon completion of procedural requirements under the agreement to gift.

    After the aforesaid acquisition, TVTN will hold 100 per cent of the issued and paid-up share capital of ITOPL.

    In a separate earlier report, TV Today Network stated that it shall not undertake the agreement, entered into with Entertainment Network (India) Limited, to sell three Metro FM Radio stations, as was earlier approved by the board. TV Today had inked a deal to sell seven Oye FM radio stations to ENIL which operates Radio Mirchi. However, MIB did not approve sale of three stations and the matter went before the Delhi High Court. Such sale agreement was subject to the approval of the MIB or an order from the Delhi High Court allowing the sale of Metro Radio stations whichever is earlier.

    Also Read:

    Q2-17: TV Today Network topline up

    ENIL revenue up in third quarter of 2017

  • TV Today Network approves execution of investment agreement with TMPL, LMIL and Zee

    TV Today Network approves execution of investment agreement with TMPL, LMIL and Zee

    MUMBAI:TV Today Network (TVTN) has approved the execution  of investment agreement  and letter agreement  with Today Merchandise Private Limited (TMPL), Living Media  India  Limited  (LMIL) and  Zee  Media  Corporation   Limited  (Zee).

    TVTN also approved the promoter promotion agreement  with TMPL, whereby  TVTN would be providing advertising and promotional services to TMPL of Rs 2.5 crore per annum for a period of five years.

    In consideration of providing the promoter promotion advertisement support, TVTN shall be issued CCDs of TMPL worth Rs 12.5 crore (being the amount of promoter promotion support to be provided by TVTN).  

    An official statement said such CCDs can be converted into equity shares after the expiry of five years from the date Zee has invested in TMPL.

     

  • TV Today Network approves execution of investment agreement with TMPL, LMIL and Zee

    TV Today Network approves execution of investment agreement with TMPL, LMIL and Zee

    MUMBAI:TV Today Network (TVTN) has approved the execution  of investment agreement  and letter agreement  with Today Merchandise Private Limited (TMPL), Living Media  India  Limited  (LMIL) and  Zee  Media  Corporation   Limited  (Zee).

    TVTN also approved the promoter promotion agreement  with TMPL, whereby  TVTN would be providing advertising and promotional services to TMPL of Rs 2.5 crore per annum for a period of five years.

    In consideration of providing the promoter promotion advertisement support, TVTN shall be issued CCDs of TMPL worth Rs 12.5 crore (being the amount of promoter promotion support to be provided by TVTN).  

    An official statement said such CCDs can be converted into equity shares after the expiry of five years from the date Zee has invested in TMPL.