KOLKATA: GTPL Hathway has sold its entire 51 per cent equity stake in Vaji Communications and Vizinagar. Post the transaction, both the companies are no longer subsidiaries of the cable company.

The multi-system operator has sold 32,96,010 equity shares in Vaji Communications having face value of Rs 10 each and 100 per stake in preference shares i.e. 61,50,000 cumulative convertible preference shares having face value of Rs 10 each on 27 January 2021 for a cash consideration of Rs 3,29,601 and Rs 6,15,000 respectively through share transfer agreement.

It has also sold its 51 per cent equity stake i.e. 51,000 equity shares having face value of Rs 100 each in Vizianagar for a cash consideration of Rs 5,100 on the same day.

Vaji Communications and Vizianagar reported total income of Rs 52.98 million (0.22 per cent of consolidated income of the company) and Rs 143.50 million (0.59 per cent of consolidated income of the company) respectively and net worth of Rs 7.62 million and Rs (18.38) million respectively in FY 20.