Proforma Financial Summary - Network 18
Approvals required; Advisors to the transaction, and Timelines
Approvals
Required
Transaction
Partners
Appointed Date
• SEBI and Stock Exchanges
• Shareholders and Creditors' of all merging entities
• Company law regulatory authorities and Income Tax Dept
• NCLT Mumbai
•
Approval of the DoT (1)
Network 18
Lawyer: Trilegal
• Valuer: BDO Valuation advisory LLP (Registered Valuer) and MSKA & Associates (Chartered
Accountants)
• Fairness Opinion: Citigroup Global Markets India Pvt Ltd (for Network 18) and ICICI Securities
(for TV18, Den and Hathway)
Appointed date for Merger: February 1st, 2020
Scheme, subject to receipt of all approvals, is expected to be consummated by Q2FY21
Note: (1) Required for transfer of ISP license (DEN) and Unified License - ISP (Hathway).
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