FDI nod for Sun’s DTH

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.