Gaurav Mercantile, a company in which Raghav Bahl and Ritu Kapur are promoters, has entered a deal with Quintillion Media to acquire its digital services.
Bahl and Kapur, the promoters of Gaurav Mercantiles collectively owning 66.42% of the share capital, are the ultimate beneficial shareholders of Quintillion Media.
Mohan Lal Jain, promoter of Gaurav Mercantiles Limited, is a director on the Board of the holding company of Quintillion Media too.
The acquisition is subject to the approval of the shareholders.
The board of directors approved certain identified material related party transactions to be undertaken in the ordinary course of business by the company.