Sun TV Network today said its promoter Kalanithi Maran has pledged 2.5 million shares of the company, raising an estimated Rs 100 crore.
In a filing to the Bombay Stock Exchange (BSE), the company said Maran has pledged 2.5 million shares, representing 0.63% stake in the firm, on April 25, 2011.
Although the company did not reveal the deal size, going by the closing price of its shares on the day of the transaction, it is estimated to have raised around Rs 100 crore.
Following this share pledging exercise, Maran's total pledging in the company now stands at 13.82%.
Shares of Sun TV Network closed at Rs 410.25 on the BSE, up 3.76% from the previous close.
