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Promoter increasing stake in TV18
Coimbatore, Feb. 22
Television Eighteen India Ltd has informed that
Network 18 India Holdings Pvt Ltd, a part of the
promoter group of Television Eighteen India Ltd (TV18),
has decided not to subscribe to the preferential allotment
of one crore convertible warrants of the company that
were approved for allotment vide a special resolution
passed by the shareholders at its EGM held on February
8. Instead, the promoter group has decided to use the
creeping acquisition method to increase its stake. In
accordance with the SEBI regulation and other
applicable guidelines, Network18 Media and Investments
Ltd has already acquired 3,00,000 equity shares of the
company since February 15, through purchases in the
open market. - Our Bureau
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