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Sun TV, DB Corp need to pare promoter stakes
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Quote: Media companies DB Corp and Sun TV will have to bring down their promoter holdings to comply with the new regulation that requires firms listed on the exchanges to have a minimum public holding of 25 per cent.

Sun TV, owned by Kalanithi Maran, has not been impacted much by the new requirement, which was notified on Friday. Sun TV promoter's holding at 77 per cent is almost at the required level.

A two per cent stake sale by the Sun TV promoters would fetch Rs 3.14 billion at the current market price. Sun TV's share price closed on Friday at Rs 398.5 on the BSE.

The promoter holding in DB Corp, which owns Dainik Bhaskar, is at 86.35 per cent and will have to be brought down by a minimum 5 per cent every year.

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