Sun Television Limited on April 25 listed on the bourses and was trading 70 per cent higher at Rs 1,445 in first few minutes.

The scrip, which was offered through Initial Public Offer early this month at a tag price of Rs 875 per share, listed at Rs 1,111 on the Bombay Stock Exchange and Rs 1,000 on the National Stock Exchange, and picked up to a high of Rs 1,445 at 1015 hrs.

The counter attracted about 236 block deals in first 15 minutes of trading in about 7.75 lakh shares.

Sun Television Limited is a Chennai-based broadcaster, which operates TV channels in the states of Tamil Nadu, Kerala and Andhra Pradesh, as well as FM radio channels.

The market capitalisation of Sun TV after listing was at Rs 10,090 crore. This compares incredibly well with Subhash Chandra’s Zee Telefilms at Rs 10,212 crore which listed a long time ago.

This has turned Kalanithi Maran, CMD and promoter, into South India’s No. 1 media magnate and a name to be reckoned with throughout India if reports/rumours of his spreading out to other regions and eyeing acquisitions were to be believed.

Maran controls 90% of Sun and this gives him ownership of Rs 9,080 crore. Chandra in fact owns just a shade over Rs 2,000 crore of Zee’s wealth that he created.

( www.financialexpress.com)