Shares of Solar TV Community Ltd rose 1% to the touch a day’s excessive of Rs 582.65 on twenty first July, after the corporate’s board permitted the acquisition of a 100% fairness stake in Northern Superchargers Ltd., a London-based cricket franchise that performs in The Hundred — an expert league run by the England and Wales Cricket Board (ECB).
The deal is valued at £100.5 million (roughly Rs 1,161 crore).
Northern Superchargers reported a turnover of £1.89 million (roughly Rs 22 crore) in FY24 and is at the moment worthwhile. The acquisition comes at a steep valuation of 53 instances income and is anticipated to shut by thirty first December, 2025.
With this transfer, Solar TV is increasing its international presence in sports activities and leisure. The corporate already owns two main cricket groups — Sunrisers Hyderabad within the IPL and Sunrisers Japanese Cape in South Africa’s SA20 league.
The addition of Northern Superchargers provides it a foothold within the UK, one of many world’s high cricket markets. Solar TV stated The Hundred is a fast-growing league with sturdy potential for future returns.
At 12:56 PM, the shares of Solar TV have been buying and selling 1.15% larger at Rs 582.35 on NSE.
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