Colorchips New Media Ltd. was established on May 10, 1985, with a focus on film production and various domestic productions, spanning theatrical, web, TV, and the introduction of channels on emerging technologies. The company applied to BSE Ltd. for the listing of its 8,10,49,500 equity shares, each valued at Re. 1/-, which was approved on July 26, 2016, with trading beginning on August 2, 2016. Following shareholder approval on November 30, 2016, the company issued 40,00,000 equity share warrants at a premium of Rs. 62.32/- each, converting them into equity shares later on. Additionally, on March 15, 2017, the company distributed fully paid-up bonus equity shares to its shareholders. In 2017, Colorchips New Media Ltd. established a Wholly Owned Subsidiary named 'MIENT Hospitality LLC' in Utah, USA, aimed at hotel acquisition and management, aligning with its diversification strategy.
Approval was sought to change the company name to Colorchips New Media Limited, which was granted by CRC, Delhi, on July 26, 2018. The company's Board Meeting on August 28, 2018, approved the consolidation of equity shares from Re. 1/- to Rs. 10/-, subject to shareholder and BSE Ltd. approval. During 2018, the company acquired Vega Music Private Limited, enhancing its digital media presence, and its subsidiary MIENT Hospitality LLC acquired Kirksville Hospitality, INC, making it a step-down subsidiary. However, due to non-compliance by the seller, Kirksville Hospitality, INC ceased to be a wholly-owned subsidiary. Similarly, J&K Hotels, LLC, initially an associate company, ceased to be one due to non-compliance. MIENT Hospitality LLC, USA, ceased to be the company's subsidiary in the financial year 2018-19, as it was dissolved on March 20, 2019.
Approval was sought to change the company name to Colorchips New Media Limited, which was granted by CRC, Delhi, on July 26, 2018. The company's Board Meeting on August 28, 2018, approved the consolidation of equity shares from Re. 1/- to Rs. 10/-, subject to shareholder and BSE Ltd. approval. During 2018, the company acquired Vega Music Private Limited, enhancing its digital media presence, and its subsidiary MIENT Hospitality LLC acquired Kirksville Hospitality, INC, making it a step-down subsidiary. However, due to non-compliance by the seller, Kirksville Hospitality, INC ceased to be a wholly-owned subsidiary. Similarly, J&K Hotels, LLC, initially an associate company, ceased to be one due to non-compliance. MIENT Hospitality LLC, USA, ceased to be the company's subsidiary in the financial year 2018-19, as it was dissolved on March 20, 2019.
