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NDTV sells stake in auto e-commerce subsidiary
Prannoy Roy-owned New Delhi Television (NDTV) has given up control of its subsidiary Fifth Gear Ventures Limited (FGVL) by diluting its stake in the company. The NDTV Group NDTV and its subsidiary NDTV Convergence) held 78.74 per cent stake in the subsidiary, the remaining being held by the Chennai-based Autobyte Private Limited (ABPL). The company notified the Bombay Stock Exchange (BSE) of the shareholders' decision, in favour of the proposed stake dilution, on September 21.
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