Diligent Media Corporation Ltd Share Price

History of Diligent Media Corporation Ltd

Diligent Media Corporation Limited was incorporated in the State of Maharashtra on 17th February 2005, as a Joint Venture between Essel Group and Bhaskar Group, India's leading media giants and began its journey with launch of Mumbai edition of Daily News Analysis (DNA), an English daily broadsheet, in July 2005. Bhaskar Group exited the JV in 2012, after which the Company was consolidated under Zee Media Corporation Limited, an Essel Group Company, as a step-down subsidiary. With the change in regulatory landscape and considering the scale achieved, the Print Media Division got demerged and consolidated independently under the Company as a part of strategic move. The Company is presently in the business of Digital Media comprising distribution of newspapers, videos, documentaries, publica ...tion, printing of books and other periodicals and photo stories. The Company launched its erstwhile franchise editions of DNA in Jaipur & Ahmedabad as independent editions in June 2017. Company's entry in regional newspaper marked the launch of a Marathi weekly newspaper 'Zee Marathi Disha' in December 2017 in pursuance of a Scheme. With these launches, Company works nearly 4 editions of English daily newspaper DNA (Mumbai, Delhi, Jaipur and Ahmedabad), a weekly Marathi language newspaper and digital editions of these newspaper in its business portfolio. In 2017-18, the restructuring was affected through a Scheme of Arrangement and Amalgamation, following the Print Media business carried on by the Company, its erstwhile Holding Company, Zee Media Corporation Limited (ZMCL) and other Print Media subsidiaries of ZMCL viz. Mediavest India Private Limited (Mediavest) and Pri-Media Services Private Limited (Pri-Media) was consolidated under, and vested with, the Company through the Scheme of Arrangement and Amalgamation following the approval from Mumbai Bench of the Hon'ble National Company Law Tribunal (NCLT), vide an Order dated June 8, 2017. As per the said Scheme, the Print Media Undertaking of Zee Media Corporation Limited including the equity investment of ZMCL in Mediavest India Private Limited and Pri-Media Services Private Limited got merged with the Company effective from April 1, 2017. As a result of merger, the entire Print Media business comprising of Printing & Publication of DNA' Newspaper and Marathi Magazine Zee Marathi Disha' along with Digital News Media business was vested with the Company. As per the Scheme and in consideration of the Demerger of Print Media Undertaking, the Company had issued and allotted on October 9, 2017, an aggregate of 11,77,08,018 Equity Shares of Re.1 each to the Shareholders of Zee Media Corporation Limited (ZMCL) in the ratio of 1 Equity Share of Re 1/- each of the Company for every 4 Equity Shares of Re 1/- held in Zee Media Corporation Limited. The Company had ceased to carry the business of print publication of all editions of its English Daily Newspaper called 'DNA' and the vernacular weekly magazine called Zee Marathi Disha' w.e.f. 10 October 2019 and 11 October 2019 respectively. DNA Hindi Edition was newly launched in 2022-23. Since the year 2025, Company is developing its online news media business.