South-based, Sun TV Network’s promoters are reportedly planning to sell 2% stake through offer for sale (OFS) in order to comply with the Securities Exchange Board of India's minimum shareholding norms. The issue price will be in the range of Rs 410-420 per share. The promoters are likely to raise around $65 million via OFS route. Currently, promoters owns 77% stake in the company.
The company has reported a rise of 11.61% in its net profit at Rs 177.50 crore in Q4FY13 as compared to net profit of Rs 159.03 crore in the same quarter previous year. Total income of the company has increased by 11.81% to Rs 494.30 crore as compared to Rs 442.09 crore in corresponding quarter last year.
