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The Indian press is reporting that India’s TataSky pay-TV operation has shelved plans for an IPO. In 2013 it had talked of a float of 25 per cent of the company in order to raise 20 billion Indian Rupees (about $312 million).
India’s Economic Times is reporting that TataSky will instead raise INR18 billion by selling a similar stake to Private Equity investors.
TataSky is owned by the Tata Group and 21st Century Fox.
The company is quoted by the newspaper saying that it is in dialogue with global investors such as Warburg Pincus, Blackstone and others.