Kalanithi Maran sells 2.79% stake in Sun TV for Rs 447 cr
Kalanithi Maran, the promotor of Sun TV Network, has offloded 2.79 per cent stake in the company for over Rs 447 crore to nine foreign funds including the Soros Quantum Fund, UBS Securities and Nomura Asset Management in open market transactions.
Kalanithi Maran, who held 79.97 per cent stake in Sun TV, sold 1.10 crore equity shares at a price of Rs 406 each in a block deal at the Bombay Stock Exchange, data available on the exchange show.
Sorus Quantum fund, controlled by George Soros, a leading global investor, picked up 20.69 lakh equity shares of Sun TV at a price of Rs 406 each in a block deal at the BSE aggregating to over Rs 84 crore. Other investors, including UBS Securities Asia acquired 19.41 lakh shares for over Rs 78.80 crore, Nomura Asset Management Singapore bought 6.77 lakh shares at a price of Rs 27.48 crore and T Rowe Price International picked up 19.40 lakh shares in Sun TV for a consideration of Rs 78.80 crore.
Other investors include Marc Faber, the Master Trust Bank of Japan, Notz Stucki ET CIE SA, Ruane Cunniff and Goldfarb and Indea Capital Pte, the data show.
The shares of Sun TV Network today closed at Rs 409.65, up 0.99 per cent at the BSE.
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