News Headline
Sun plans to make preferential allotment to foreign investors prior IPO
MUMBAI: Sun TV Ltd is planning to issue preferential allotment of shares to foreign investors before its proposed initial public offering (IPO). The company has not indicated the size of the allotment, but it could even be up to a maximum 20 per cent of the expanded base.
After the IPO, the dilution of the shareholding will be up to 10 per cent.
“Pursuant to the IPO, there will be a change in the shareholding pattern of the company to the extent of 10 per cent of the post IPO equity capital of the company. To the extent that the equity shares of the company are purchased by foreign shareholders, the foreign shareholding of the company will increase to such extent,” Sun said in its application to the Foreign Investment Promotion Board (FIPB).
Sun plans to issue equity shares to foreign investors either by way of a preferential allotment prior to the IPO and/or by an IPO offering of its equity shares of the face value of Rs 10, it has informed the FIPB.
In the event of a preferential allotment to foreign investors, Sun will intimate the FIPB of the “identitity of the foreign institutional investors, the number of equity shares proposed to be issued and other details.”
A copy of Sun’s FIPB application is with Indiantelevision.com. According to it, Sun TV has sought FIPB approval for foreign investments up to 20 per cent of the post IPO paid up equity in the company. It has also applied for approval of a preferential allotment and/or an IPO to the maximum extent of 20 per cent of post IPO holding by foreign investors in the company.
According to regulations, Sun will have to stick to the 20 per cent foreign shareholding cap for private FM radio broadcasters. The company is engaged in the broadcasting of TV and FM radio channels. It also operates a teleport and uplinking hub. Currently, the radio operations in Tirunelveli, Coimbatore and Chennai are run under the Suryan FM brand.
Sun plans to float an IPO in the first half of this year. At present, promoter Kalanithi Maran holds 58,435,000 shares while wife Maillika has 3,565,000 shares. Others hold 155 shares in the company.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
