Founder and chairman of Sun TV Network Ltd Kalanithi Maran is in talks with foreign Institutional Investors to sell a 2 percent stake to meet the minimum public shareholding norms of listed companies.
The capital markets regulator has mandated that all listed companies outside government control should reduce their promoter’s stake to at least 75 percent by June. Maran held 77 percent of the shares outstanding in Sun TV Network as on 31 December, 2012 and is likely to get about 330 crore from the stock sale.
The Securities and Exchange Board of India (SEBI) had issued a directive on minimum public shareholding in 2010, but since then not many companies have gone ahead to reduce promoter’s stakes because the market conditions have not been conducive.
Source: http://cablequest.org/news/dth-news/item/1859-maran-hold-talks-with-fii%E2%80%99s-to-sell-2-percent-in-sun-tv-network.htmlSource: http://cablequest.org/news/dth-news/item/1859-maran-hold-talks-with-fii%E2%80%99s-to-sell-2-percent-in-sun-tv-network.html
Source: http://cablequest.org/news/dth-news/item/1859-maran-hold-talks-with-fii%E2%80%99s-to-sell-2-percent-in-sun-tv-network.htmlSource: http://cablequest.org/news/dth-news/item/1859-maran-hold-talks-with-fii%E2%80%99s-to-sell-2-percent-in-sun-tv-network.html
No comments:
Post a Comment