Sun TV to issue 20 % equity to SAHEL

New Delhi, Feb 22 (UNI) Tamil Nadu-based M/s Sun Direct TV Private Limited was allowed today to issue equity shares of only upto 20 per cent of the total subscribed and paid up capital of the company, amounting to around 150 US million dollars (around Rs 675 crore), to the South Asia Entertainment Holdings Limited (SAHEL), Maurities.

Finance Minister P Chidambaram told mediapersons the decision to this effect was taken at the Cabinet Comittee on Economic Affairs (CCEA) meet and the approval would be subject to guidelines issued by the Ministry of Information and Broadcasting (I&B).

He said the move would generate a revenue of 50 US million dollars in the form of Foreign Direct Investment (FDI).

UNI