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NDTV's foreign holding could touch 26 per cent
New Delhi: New Delhi Television Ltd (NDTV) has informed the Bombay Stock Exchange that the foreign holding in the company would reach 26 per cent if the Government allows the transfer of 15 per cent equity to promoter Prannoy Roy's daughter Ms Tara Roy and also allows Cyprus-based GA European investment to invest in the company.

The company has informed the exchange that the Information and Broadcasting (I&B) Ministry is examining a proposal whereby the promoters, Dr Prannoy Roy and Ms Radhika Roy, plan to transfer shares constituting 15 per cent of the total paid up equity capital of the company, by way of gift to their daughter Ms Tara Roy, a non-resident Indian.

Also, according to the company, GA European Investments Ltd, incorporated in the Republic of Cyprus, and having its registered office there, has proposed to acquire 48,36,000 equity shares of the company from Indian company Shyam Cellular Infrastructure Projects Ltd, which constitutes 7.95 per cent of the issued and paid up equity share capital of the Company.

At present 3.05 per cent of the total equity is held by Foreign Institutional Investors pre-IPO.

The company has said that as a result of these transfers, the cumulative foreign shareholding in the company will touch 26 per cent, the maximum permissible limit prescribed under the guidelines for uplinking of news and current affairs TV Channels from India.
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