QDML rebrands itself as Quint Digital Ltd, revenues up over 15%
The company has also entered into a joint venture to foray into the area of Artificial Intelligence
Quint Digital Media Limited (QDML) has rebranded itself as a pure-play digital company — to be renamed Quint Digital Limited, in order to resonate better with the vision, strategy, and digital focus of the Group. In line with the digital vision, the company has entered into a joint venture to foray into the area of Artificial Intelligence.
The Group has entered into an MoU with AMG Media to divest the remaining 51% stake in Quintillion Business Media Limited. The transaction with AMG Media is restricted only to Quintillion Business Media Limited and does not involve any transaction with QDML, that is, there is no investment in The Quint or Quintype (owned by QDML) by AMG Media.
The company approved raising up to Rs 250 crore through a QIP — fund will be deployed on the inorganic growth strategy of the digital and media tech operations of the group.
The Quint’s standalone revenues for Q1 FY24 has grown by 23% to Rs 13.20 crore as compared to Q1 FY23 revenues of Rs 10.72 crore.
