Kalanithi Maran pledges 16.84% stake in Sun TV

Mumbai: Sun TV Network today said its Chairman and Managing Director, Kalanidhi Maran, has pledged 6.63 crore shares, representing a 16.84 per cent stake in the media company.
In a filing to the Bombay Stock Exchange, the Chennai- headquartered company said its promoter, Maran, had pledged a total of 6.63 crore shares out of the 30.34 crore shares he holds in Sun TV.
The shares pledged by him account for 21.87 per cent of his personal stake in the company, it added.
The development comes at a time when Maran had agreed to buy a 37.7 per cent in budget airline SpiceJet for an estimated Rs 750 crore, thus becoming its single largest stakeholder. On June 14, Maran launched an open offer to acquire an additional 20 per cent stake in the no-frills airline for an estimated Rs 479.29 crore.
25/06/10 Economic Times

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Categories: SpiceJet Jun 2010, Sun Airways Jun 2010