South-based, Sun TV Network’s promoter - Kalanithi Maran has sold 2% stake in the company, bringing down his holding in the firm to 75%. Kalanithi Maran has sold 7,881,700 equity shares of the company constituting 2% of its total equity share. Kalanithi Maran held 77% stake in Sun TV Network before the sale of the shares. The above sale has been transacted through offer for sale (OFS) mechanism.
As per the Securities and Exchange Board of India (SEBI) minimum public shareholding norms, all private sector listed companies need to have at least 25% public shareholding and promoters have been asked to lower their stake to 75% or below by June, 2013.
In 2012, SEBI created two new routes - offer for sale (OFS) and institutional placement programme (IPP) in order to help companies comply with the new public shareholding norms.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 87.70 |
| Sun TV Network | 650.35 |
| GTPL Hathway | 68.16 |
| Network 18 Media Inv | 35.92 |
| TV Today Network | 115.94 |
| View more.. | |
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