As part of its expansion and diversification plans, the Ahmedabad-based Sambhaav Group has merged its associate companies - Abhiyaan Press & Publications Ltd and Aider Publishers Pvt Ltd - with Sambhaav Media Ltd, a public company registered under the Companies Act.
The merger makes the Sambhaav Group the first multilingual media group in Gujarat, besides being the third largest group in the state, the group said in a release in Mumbai on Saturday.
The Gujarat high court has already approved the amalgamation scheme, it said.
The amalgamation is part of an effort by the group, a multi-edition publisher, to bring together its various publications with plans to spread its network across the state and at the national level, the release said.
Kiran Vadodaria, chairman and managing director, said the "initiatives taken during the year have yielded results and help the company post moderate profits."
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