Hinduja Global Solutions to sell optical fibre assets to Indusind Media for 2.08 billion rupees

Hinduja Global Solutions Limited has finalized an agreement to sell optical fibre assets to Indusind Media and Communications Limited.

In 2024, the deal is expected to be worth 2.08 billion rupees. HGSL is a subsidiary of IMCL. As per Regulation 30 of SEBI , 2015, HGSL released a formal statement regarding the agreement in an exchange filing.

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The current filing notes the continuation of the previous communication, which was dated March 20, 2024. HGSL intends to sell its optical fibre assets as part of the company’s strategy to reorganize its operations and refocus on its primary business areas.

At the same time, IMCL aims to strengthen its infrastructure and bolster its presence in the telecommunications market by acquiring these assets. Therefore, the agreement points to the ongoing efforts of companies to optimally use available resources, identify opportunities for growth, and generate value for shareholders in the rapidly-changing business environment.