ENIL: Times Horizon Private Limited Becomes Promoter After Scheme of Arrangement
Times Horizon Private Limited (THPL) has become the promoter of Entertainment Network (India) Limited (ENIL) following a scheme of arrangement with Bennett, Coleman & Company Limited (BCCL). THPL acquired 71.15% of ENIL's equity shares and voting rights effective September 1, 2026.
A change in promoter and significant shareholding acquisition by a new entity can lead to strategic shifts and operational changes within the company, potentially impacting future performance and direction.
The announcement details a corporate restructuring and change in promoter status, which is a factual event with no immediate positive or negative financial implications stated.
Entertainment Network (India) Limited (ENIL) has announced an update regarding a scheme of arrangement involving its promoter, Bennett, Coleman & Company Limited (BCCL), and Times Horizon Private Limited (THPL). The scheme became effective on 1 September 2026.
As per the scheme, the non-publishing business of BCCL, which includes broadcasting and entertainment activities, has been demerged into THPL. This includes BCCL's shareholding in ENIL. Consequently, THPL has acquired 71.15% of the equity shares and voting rights in ENIL, thereby becoming its promoter.
In consideration for the demerger, THPL issued equity shares to BCCL shareholders. Additionally, THPL allotted 2,86,955 equity shares to Sanmati Properties Limited on a preferential basis. Following this allotment, Sanmati Properties Limited, Arth Udyog Limited, TM Investments Limited, Mr. Vineet Jain, and Bharat Nidhi Limited are acting in concert regarding their aggregate voting rights in THPL, representing 50.05% of the total voting rights.
A plain-language summary of a public exchange filing by Entertainment Network (India) Limited. Read the original for the full detail.