Indiantelevision.com's News Room Headlines
  NDTV's foreign holding to hit 26 per cent after shares transfer  
Indiantelevision.com Team
(24 August 2005 9:00 pm)
 
     
  MUMBAI: New Delhi Television Ltd will hit the foreign investment cap of 26 per cent, if two investments which are pending government approval take place.

NDTV promoters Prannoy and Radhika Roy are transferring 15 per cent of their stake to daughter Tara Roy who is a non-resident Indian. GA European Investments Ltd. (GA), a company incorporated in the Republic of Cyprus, has also proposed to acquire 7.95 per cent stake, or 4,836,000 equity shares, of NDTV from Shyam Cellular Infrastructure Projects Ltd. of India. Foreign institutional investors already hold 3.05 per cent equity in the company.

  
     
  NDTV has informed the Bombay Stock Exchange (BSE) that the two proposals are awaiting the necessary regulatory clearance. Following the share transfers, the cumulative foreign shareholding in the company would reach the limit of 26 per cent, NDTV has said. This is the maximum permissible limit prescribed under the guidelines for uplinking of news and current affairs TV channels from India. No further foreign shareholding including the foreign holding component, if any, in the equity of Indian shareholder companies can take place.

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