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Reliance Industries to offload 3.1 percent stake in Network18

Jul 06, 2015    

New Delhi: Reliance Industries will offload 3.10 percent stake in media and entertainment firm Network18 Media and Investments Ltd to bring down its shareholding to 75 percent.The company, which had last year acquired majority holding in Network18 Media and Investments for Rs 4,000 crore through Independent Media Trust (IMT), said the move was to comply with SEBI requirement of keeping promoter holding at 75 percent.In a BSE filing Reliance Industries said: "...It is proposing to sell 3.25 crore shares of Network18 Media and Investments Ltd (representing 3.10 per cent of the equity capita...

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