(8 July 2005 7:00 pm)

MUMBAI: Shyam Cellular Infrastructure Projects Ltd. has acquired eight per cent stake in NDTV Ltd. The acquisition of 48,36,000 shares was through open market purchase, NDTV informed the NSE today.

Earlier, ICICI Equity Fund had exited from NDTV, selling its 14.93 per cent stake in installments. The last sale of 10 per cent (6,077,528 shares) was On 28 June, NDTV informed NSE today. ICICI Trusteeship Services sold on behalf of ICICI Equity Fund.

In a separate development, Franklin Templeton Mutual Fund had acquired 2.95 per cent in NDTV Ltd, taking its total stake in the company to 6.53 per cent. The purchase in the market of 17,92,588 shares on 27 June (2.95 per cent) was done through Franklin Templeton's scheme Franklin India Flexi Cap Fund.