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The board of Siti Networks on Thursday approved the sale of its entire holding in its non-material subsidiary - Siti Bhatia Network Entertainment Pvt Ltd. The company holds 10,409 equity shares (i.e. 51 per cent) in the equity share capital of Siti Bhatia Network Entertainment Pvt Ltd. The subsidiary accounted for about ₹2.6 crore of the consolidated revenue of the company for financial year 2017-18, which was about 0.18 per cent of the total turnover. The deal will be completed within two weeks and the company is expected to receive ₹11 lakh at the time of the stake sale. Shares of Siti Cable jumped 5.45 per cent at ₹15.47 on the BSE.
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