Star Network sells 26% stake in Balaji

The entire stake of 26 per cent which belonged to Star Network has now been sold to Balaji Telefilms on Metropolitian Stock Exchange of India (MSEI) through a block deal. Murdoch’s company Star Middle East FZ-LLC held 1, 69,48,194 shares in the film production and television powerhouse lead by Ekta Kapoor as of 30 June, 2015.

It is said that the deal has been done with an average price of 63.60 per share at a discounted rate. The shares of  Ekta Kapoor lead company have increased by almost 20 % with a point rise of 15.85.

Ekta Kapoor and her family consisting Jeetendra, Shobha, and Tusshar Kapoor hold a stake of 42.93% in the company with a total share of 2,79,92,938 on their names.

The company shares were estimated at Rs. 95.25, raised by Rs 15.85, or 19.96% on the Bombay Stock Exchange. Information about the buyers is yet to be revealed.