Roys gift daughter NDTV stake

Deepak Mohanty - Televisionpoint.com
Prannoy Roy and Radhika Roy, the promoters of New Delhi Television LTD, NDTV have decided to gift their NRI daughter, Tara Roy, a 15 per cent share of NDTV. Currently, Tara holds 13 shares in the company.

NDTV has made a proposal to the Foreign Investment Promotion Board (FIPB) to transfer the 15 per cent from the promoters share-holding to Tara Roy. With this transfer coming to an effect, the Prannoy and Radhika Roy’s holding in the company will come down to 39.78 per cent from the present 54.78 per cent.

According to government sources, the transfer of shares to Tara has been proposed as a gift. The FIPB said that an equity transfer was possible as long as the foreign equity in the company did not exceed 26 per cent, as stipulated by guidelines governing investments in news channel companies.

At present, NDTV has three news channels - NDTV 24x7 in English, NDTV India in Hindi and business channel NDTV Profit.