This Article is From May 29, 2013

Sun TV up on hopes of high demand for share sale offer

Sun TV up on hopes of high demand for share sale offer

Shares in Sun TV Network Ltd gained 5.1 per cent on hopes of a better-than-expected response after the television broadcaster set a floor price of Rs 403 per share in the sale of a partial stake from promoter Kalanithi Maran.

Mr Maran is selling 7.9 million shares, with bids of about 6.7 million shares as of 2.27 p.m., as per National Stock Exchange data.

Investors have found the floor price of the issue attractive, dealers said.

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Copyright: Thomson Reuters 2013