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Singapore-based Nalanda Capital has sold most of its stake in Kalanithi Maran owned Sun TV Network Ltd for Rs 2.86 billion. |
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On Wednesday, Nalanda Capital sold 7.73 million shares for a price of Rs 370 per share, more than double of what it had invested to pick up the stake. The bulk deal was executed at the BSE. |
The private equity firm held 2.22 per cent stake, or 8.74 million shares, through Nalanda India Fund. It had picked up the stake in Chennai-based broadcast major in December 2008, at a price of Rs 145 per share. (Indian Television)