GECs
FIPB clears Sun TV’s preferential allotment proposal
MUMBAI: The Foreign Investment Promotion Board (FIPB) has formally cleared the application filed by Sun TV Ltd, which envisages plans to issue preferential allotment of shares to foreign investors.
The transfer amount will be worth Rs 75 million.
In the event of a preferential allotment to foreign investors, Sun will intimate the FIPB of the “identity of the foreign institutional investors, the number of equity shares proposed to be issued and other details.”
In its application last month, Sun had said that it “proposes to issue equity shares to foreign investors either by way of a preferential allotment prior to the initial public offering (IPO) and/or by an IPO offering of its equity shares of the face value of Rs 10.”
Sun TV has already filed the red herring prospectus with Securities Exchange Board of India (SEBI) for its proposed IPO.
The company plans to come out with a fresh equity issue of 68,89,000 equity shares of Rs 10 each for cash, to be made entirely through the book building route.
The issue will constitute 10 per cent of the fully diluted post issue paid-up capital of the company. Following the issue, the shareholding of Sun TV principal promoter Kalanithi Maran will reduce to 89.99 per cent from 99.99 per cent (61,999,969 shares).
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
