Quint Digital Limited has formalized its expansion into the food and cultural market space by entering into a sub-lease agreement with Alborz Developers Limited for establishing India's first Time Out Market at Worldmark Aerocity, New Delhi. The company announced this development through a regulatory filing under Regulation 30, marking a crucial step forward in its franchise agreement with Time Out Group plc.

Sub-Lease Agreement Details

The sub-lease agreement, executed on February 9, 2026, secures a strategic property for the Time Out Market Delhi project. The agreement establishes the foundation for India's first editorially curated food and cultural market.

Market Features and Capacity

Time Out Market Delhi will be positioned within the new phase of Worldmark development, spanning approximately 17 million sq ft in the country's finest Global Business District. The facility will bring together a curated ensemble of culinary and cultural experiences.

Strategic Partnership Framework

This development builds on QDL's multi-channel collaboration with Time Out Group plc, announced in May 2025. The partnership encompasses both digital and physical expansion, with the launch of timeout.com/india alongside social and video platforms scheduled for mid-February 2026.

Quint Digital Limited holds exclusive options to explore opportunities across India on behalf of Time Out Group plc, positioning the company to progressively expand the Time Out Market footprint to key cities nationwide. The curation strategy focuses on craft, credibility, and cultural relevance, featuring award-winning chefs, iconic institutions, and emerging culinary voices.

Management Perspectives

Ritu Kapur, Managing Director and CEO of QDL, identified Delhi as the natural starting point for Time Out Market in India, emphasizing the city's scale, diversity, and energy as the template for nationwide expansion. Raghav Bahl, Director and Promoter of QDL, highlighted how the partnership combines Time Out's proven global model with QDL's strengths in content, digital publishing, and AI capabilities.

Chris Ohlund, CEO of Time Out Group plc, noted the company's expansion momentum, having opened three new Time Out Market sites each in 2024 and 2025, with five additional locations under development. The franchise agreement enables Time Out to expand its brand while building a strong digital-physical platform in India.

About the Companies

Quint Digital Limited operates as India's leading digital and media-tech, AI-focused company, creating innovative solutions with cutting-edge technology. The company maintains a significant minority stake in Lee Enterprises, Inc. and recently strengthened its capabilities through the acquisition of ListenFirst Media.

Time Out Group, launched in London in 1968, operates across over 350 cities in over 50 countries. Time Out Market represents the world's first editorially curated food and cultural market concept, with successful operations in over 10 cities including Lisbon, New York, and Dubai.

Quint Digital Limited has successfully completed its strategic acquisition of a significant stake in Lee Enterprises, Incorporated, marking a notable expansion into the American media market. The company announced the completion of this transaction on February 6, 2026, following its initial intimation dated December 30, 2025.

Acquisition Details

The acquisition involved the purchase of 2,451,346 common shares in Lee Enterprises through a private placement offer. The transaction details are structured as follows:

About Lee Enterprises

Lee Enterprises, Incorporated is a Delaware corporation listed on NASDAQ under the ticker LEE. The company operates as a major subscription and advertising platform and serves as a leading provider of local news and information through daily newspapers and rapidly growing digital products.

Financial Performance

Lee Enterprises has demonstrated substantial revenue generation over the past three years:

Strategic Rationale

The acquisition aligns with both companies' operational objectives in the media and publishing industry. The funds from this investment will be utilized by Lee Enterprises for working capital and general corporate purposes, including payment of customary fees. This transaction does not constitute a related party transaction, and no promoter or group companies have any interest in the acquired entity.

Company Background

Lee Enterprises, headquartered in Davenport, Iowa, has established itself as a leading provider of trusted local news and information, complemented by fast-growing digital media and advertising platforms. Founded in 1890, the company has a rich history of innovation and community service, including pioneering computer-based newspaper production in 1973. The company offers a comprehensive suite of digital marketing services, content management solutions, and custom content creation on a national scale, consistently ranking among top performers in its industry.

The acquisition has been completed without requiring any governmental or regulatory approvals, and the transaction was executed entirely through cash consideration. This strategic investment represents Quint Digital Limited's continued expansion in the media sector and strengthens its presence in the American market through partnership with an established industry leader.