Tata Sons Increases Ownership In Tata Play To 70%, Buying Out Temasek

Tata Sons has acquired Temasek's 10% stake in Tata Play for nearly ₹835 crore, boosting its holding in the satellite TV provider to 70%, per a recent media report.

What Happened: The acquisition, which the direct-to-home (DTH) player reported to the Ministry of Information and Broadcasting as required by regulations, reflects a valuation dip from $3 billion pre-pandemic to $1 billion.

This platform stands as Tata Group’s sole consumer-facing media venture, maintaining a 70:30 partnership with Walt Disney, who is also considering selling its stake.

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The deal follows discussions reported by Bloomberg in October 2023, where Tata Group aimed to buy back a stake from Temasek at a valuation exceeding $1 billion. Additionally, Tata Play has postponed its initial public offering after filing confidential documents with SEBI in November 2022 and receiving approval in May 2023, due to challenging market conditions.

Temasek has been reducing its holdings in Indian firms this year, selling a 1.1% stake in Medanta for ₹395 crore, though it still holds about 17%, and divesting its entire 5.42% stake in PB Fintech, the parent company of Policybazaar.

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Posted In: M&ANewsAsset SalesMediaTata PlayTata SonsTemasek