HT Media (NSE:HTMEDIA, BOM:532662) board has approved an investment of up to 50 million Indian rupees in its wholly owned subsidiary, Mosaic Media Ventures, through subscription to equity shares, according to a Friday filing with the Indian bourses.
The company plans to acquire 5 million equity shares as part of the deal. The transaction is aimed at supporting the subsidiary's financial requirements, the filing said.
The investment is expected to be completed within 12 months from the date of board approval, it added.
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