MUMBAI: Kalanithi Maran's Sun Direct TV
has secured government approval to induct
20 per cent foreign equity worth $150 million.
Malaysia-based Astro is making the investment
in the direct-to-home (DTH) venture through
its wholly owned subsidiary company South
Asia Entertainment Holdings Ltd (SAHEL)
of Mauritius.
The
cabinet committee on economic affairs gave
its nod today to Sun Direct to issue equity
shares to SAHEL. The approval is subject
to guidelines issued by the ministry of
information and broadcasting.
Sun,
which was waiting for a satellite and regulatory
approvals, can be ready to kick off its
services after Insat-4B launches on 10 March.
