August 6, 2008 / 10:42 AM / in 12 years

Founder firm pares stake in New Delhi Television

MUMBAI, Aug 6 (Reuters) - Broadcaster New Delhi Television Ltd (NDTV.BO)(NDTV) said on Wednesday a founder group firm has sold 2 percent stake through the open market.

RRPR Holding Pvt Ltd now holds 7.57 percent. The identity of the buyer is not yet available.

Earlier in the day, 1.25 million shares of the company, equal to 2 percent of its equity, changed hands on NSE at 410 rupees each, higher than Tuesday’s close of 381.15 rupees.

In March, NDTV’s founder group, including RRPR Holding, had raised their stake by 28 percent through an open offer, to 71.38 percent.

Shares in the company ended at 372.00 rupees, down 2.4 percent in a firm Mumbai market. (Reporting by Manoj Dharra; Editing by Ramya Venugopal)

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