DB Corp promoters selling 8% stake

Promoters of DB Corp, which publishes newspapers in four languages across 13 states in the country, are offloading their 8 per cent holding in the company via the Offer For Sale (OFS) route.

The OFS will be launched on November 9, and the banks appointed for the same are Kotak Mahindra and Citibank.

The current holding of promoters in the company is 81.51 per cent, and the move to pare stake comes in compliance with the norms set by market watchdog Sebi, according to which the promoter holding in a company is to be brought down to 75 per cent.