MUMBAI: Network 18 Fincap Pvt Ltd (previously known as SGA Finance and Management Services Private Limited) has acquired 275,000 equity shares from the promoter Television Eighteen India Ltd (TV18), Raghav Bahl for Rs 183.1 million.

So far, Bhal has transferred 1,275,000 shares to Network 18 Fincap for an approximate amount of Rs 800 million in less than a months' time.

For the record, he sold 200,000 shares at Rs 609 on 18 August, followed by 300,000 equity shares at Rs 601 on 14 August, 300,000 shares at Rs 640 on 4 August and 200,000 at Rs 650.25 on 3 August to Network 18 Fincap.

The transaction was executed by way of block deal on the stock exchange, TV18 said. "Pursuant to the sanction to the scheme of arrangement by the Hon'ble High Court of Judicature at Delhi, Network 18 Fincap Pvt Ltd has acquired 2,75,000 shares from Bahl," a statement TV18 posted on the BSE declared.