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The latest announcement is out from Cyber Media (India) Limited ( (IN:CYBERMEDIA) ).
Cyber Media (India) Limited has approved a Scheme of Amalgamation to merge its subsidiary Cyber Media Research & Services Limited into the listed parent through a merger by absorption, following recommendations from the audit committee and an independent directors’ committee. The related-party transaction, confirmed to be on an arm’s-length basis and backed by an independent valuation and fairness opinion, still requires approvals from shareholders, creditors, stock exchanges and the National Company Law Tribunal, and, if sanctioned, will consolidate the stronger research and services business with the financially weaker parent, potentially simplifying the group structure and reshaping its balance sheet for stakeholders.
More about Cyber Media (India) Limited
Cyber Media (India) Limited (CMIL) is a listed Indian media and research company whose operations include technology-focused publishing and related research and services. Its subsidiary Cyber Media Research & Services Limited (CMRSL) contributes a significantly larger share of turnover and holds a positive net worth, compared with the parent’s negative net worth, underscoring the importance of the research and services business within the group’s overall financial profile.
Average Trading Volume: 1,138
Technical Sentiment Signal: Sell
Current Market Cap: 339.5M INR
Find detailed analytics on CYBERMEDIA stock on TipRanks’ Stock Analysis page.