BackSun TV examines share buyback
As on the quarter ended 30 September, the company's promoters held 75% stake in the company and the remaining 25% are with the public
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New Delhi: Broadcasting firm Sun TV Network Ltd is examining a buyback of its equity shares and has formed a committee to examine the proposal. The company’s board of directors met on 5 November 2015 to evaluate the proposal for buyback of equity shares of the company, Sun TV Network said in BSE filing.
“After detailed deliberations, the board has constituted a committee to examine the buyback proposal as well as other options and recommend suitably," it added. As on the quarter ended 30 September, the company’s promoters held 75% stake in the company and the remaining 25% are with the public.
Out of the public shareholding, foreign institutional investors held 16.61% and domestic FIs held 2.64%. Shares of Sun TV Network closed on Thursday at ₹ 382.15 apiece, down 0.39% from the previous close on the BSE.
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