Disney may offload 10% stake in Tata Play set for IPO

Disney India may sell around 10 percent of its shareholding in Tata Play, which is planning to launch an initial public offering to raise Rs 3,200 crore. Tata Play may file its draft red herring prospectus by the end of this month. Disney owns around 30 percent stake in Tata Play, the country’s largest DTH operator.

Disney may offload the stake to comply with cross-holding norms in the media industry in the country. The satellite TV market in India faces significant challenges due to competition from streaming services. Money Control