After the board of directors approved the purchase of 10,000 equity shares of Navkar Events Pvt Ltd, with a face value of Rs. 10 per share, the shares of this micro-cap company increased by up to 2%.
With a market capitalization of Rs 76.29 Crores. Madhuveer Com 18 Network Ltd, On Thursday, The shares were trading at Rs 80.47 a share, an increase of 1.98 percent from the previous closing price.
The exchange filing states that the board of Madhuveer Com 18 Network Ltd approved the purchase of 10,000 equity shares of Navkar Events Pvt Ltd, with a face value of Rs.10 per share. As a result, the acquisition of 100% of the shares of Events Private Limited Business under the terms of the transaction is done in support of the company’s effort to grow.
In addition to the previously mentioned paragraph, the transaction does not require any government or regulatory approvals, so Navkar Events Pvt Ltd will become a wholly-owned subsidiary of Madhuveer Com 18 Network Ltd.
In 2021, the global esports market was estimated to be worth US$ 1.18 billion. In the future, the market is anticipated by IMARC Group to reach US$ 3.86 billion by 2027, growing at a compound annual growth rate of 22.4% from 2022 to 2027.
Looking into the company’s performance, Madhuveer Com 18 Network Ltd.’s revenue increased by 2 percent from Rs 0.01 Crore in Q2FY23 to Rs 0.09 Crore in Q2FY24. During the same period, net loss magnified Rs 0 crore to Rs 20 Crore.
Madhuveer Com 18 Network Limited is a company that produces, buys, sells, imports, exports, and deals in cinematographic films, television films, video films, and video cassettes. It also establishes, buys, rents, or otherwise acquires and maintains studios, labs, movie theaters, theaters, halls, and other related facilities.
Written by:- Abhishek Singh
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