Kalanithi Maran, promoter of Sun TV Network Ltd, has fixed the ‘floor price’ for the offer-for-sale (OFS) at Rs 403 a share.
Maran announced to the stock exchanges that he would sell 7.88 million shares, representing 2 per cent stake in the company, through OFS on the BSE and the NSE in line with SEBI guidelines.
The sale will take place on a separate window of the stock exchanges on May 29 at 9.15 a.m. and close on the same day at 3.30 p.m.