Stake sale may boost Hinduja Ventures

The board of Hinduja Ventures has approved divesting one lakh equity shares held in Induslnd Media and Communications (0.13 per cent of its paid-up equity capital], for ₹4.66 crore to a third party. This translates into ₹466 a share, based on IMCL equity valuation of ₹3,444.06 crore as per independent valuation. The directors have also approved selling 1.75 crore shares held by the company in Hinduja Energy (India) at ₹31.58 a share to the third party.