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IPO

Tata Play to file for IPO: report

Mint  

Tata Sky, the satellite television business of the Tata group, which was rebranded as Tata Play Ltd at the start of the year, is likely to file a draft prospectus for its initial public offering (IPO) by the end of this month, seeking to raise USD 300-400 million. Tata Sky commenced operations in 2004 as an 80:20 joint venture between Tata Sons and Network Digital Distribution Services FZ-LLC (NDDS), an entity owned by Rupert Murdoch's 21 Century Fox. Disney acquired Fox in 2019. Disney owns another 9.8% stake in Tata Sky through TS Investments Ltd, in which Fox owned 49% and Tata, the rest.