Family Feud Ends? Maran Brothers Call Truce After Row, CM Stalin Played Mediator: Report
The mediation took place recently in the presence of key members of the DMK family, including Tamil Nadu Chief Minister MK Stalin
A reported truce has been reached between DMK MP Dayanidhi Maran and his elder brother Kalanithi Maran, Chairman of Sun TV Network, following a bitter and public family dispute over alleged financial mismanagement and company shareholding.
According to a report by The Hindu citing sources, the mediation took place recently in the presence of key members of the DMK family, including Tamil Nadu Chief Minister MK Stalin.
While sources confirmed that a meeting took place, none of the individuals involved have revealed details of the discussion or the terms of the apparent settlement.
The peace deal after a legal notice issued by Dayanidhi Maran in June, where he accused his brother of serious financial misconduct. The allegations included fraudulent practices, misgovernance, and even money laundering, reportedly linked to the management and shareholding of Sun TV following the death of their father, Murasoli Maran, in 2003.
Dayanidhi had claimed that their father had died without leaving a Will, and demanded that the company's shareholding structure be restored to what it was in 2003. His legal notice also warned of possible investigations by multiple regulatory bodies, including the Serious Fraud Investigation Office (SFIO), SEBI, RBI, Enforcement Directorate, and the Registrar of Companies.
The row had an immediate impact on markets, with Sun TV's shares falling over 5 percent in early trade shortly after the news broke. In response, the company had issued a statement clarifying that the matter was personal and would not affect its operations or performance.
At present, Kalanithi Maran holds a 75 percent stake in Sun TV Network, a major media conglomerate with a market capitalisation of over Rs 24,000 crore.
The network broadcasts in seven languages across India, operates several FM radio stations, and owns IPL franchise Sunrisers Hyderabad as well as the Sunrisers Eastern Cape in South Africa's T20 league.
view comments
First Published:
July 08, 2025, 23:16 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
20 minutes ago
- Deccan Herald
Amagi Media Labs to raise Rs 1,020 crore; files DRHP with SEBI
Amagi proposes to utilise the net proceeds of the fresh issue towards investment in technology and cloud infrastructure (Rs 667 crore); funding inorganic growth through unidentified acquisitions and general corporate purposes.
Economic Times
20 minutes ago
- Economic Times
Aditya Infotech GMP robust at 30% ahead of IPO. Should you subscribe?
The upcoming IPO of Aditya Infotech, known for its CP Plus brand in video surveillance and smart camera systems, is making waves in the grey market. Its shares are trading with a grey market premium (GMP) between Rs 205 and Rs 210 per share, translating to a premium of over 30% above the upper price band of the issue. ADVERTISEMENT This strong premium suggests robust interest from investors even before the public offering opens. The GMP is often seen as an unofficial indicator of investor sentiment and potential listing performance. A 30% premium in the grey market ahead of the IPO indicates that the offering has gained strong traction—possibly due to the company's growing presence in smart security solutions, its diversified portfolio, and its expansive domestic distribution network. The price band for the Aditya Infotech IPO has been set at Rs 640–Rs 675 per share. The IPO seeks to raise a total of Rs 1,300 crore at the upper end of the issue comprises a fresh issue worth Rs 500 crore and an offer for sale (OFS) of Rs 800 crore. The lot size has been fixed at 22 shares, which means retail investors will need a minimum investment of Rs 14,850 at the upper price band. ADVERTISEMENT Not more than 75% of the net offer to Qualified Institutional Buyers (QIBs). Not less than 10% to Retail Individual Investors (RIIs). Not less than 15% to Non-Institutional Investors (NIIs). The issue will be managed by ICICI Securities Limited and IIFL Capital Services Limited, with MUFG Intime India Private Limited appointed as the registrar. ADVERTISEMENT Issue Opens: July 29, 2025 Issue Closes: July 31, 2025 Basis of Allotment Finalization: August 1, 2025 Refunds/ASBA Unblocking: August 4, 2025 Shares Credited to Demat Accounts: August 4, 2025 Tentative Listing Date: August 5, 2025 Listing Exchange: BSE and NSE Also read: NSDL IPO: Issue opens on July 30, here's what you need to know about GMP, issue details Brokerage firm Bajaj Broking has assigned a 'Subscribe for long-term' rating for the issue. ADVERTISEMENT Bajaj Broking noted that from a financial standpoint, the company has reported consistent growth over the last three financial years on a consolidated basis. It posted total income and net profit of Rs 22,955 million and Rs 1,083.11 million in FY23, Rs 27,959.6 million and Rs 1,151.72 million in FY24, and Rs 31,229.26 million and Rs 3,513.69 million in company's average Return on Equity (ROE) and Return on Capital Employed (ROCE) stand at 34.53% and 33.27%, respectively. Based on annualized FY25 earnings, the IPO's asking price implies a price-to-earnings (P/E) ratio of 20.44, while the P/E based on FY24 earnings stands at 60.05. ADVERTISEMENT Aditya Infotech Limited (AIL) is a leading player in video security and surveillance solutions in India, operating under the well-known brand name CP Plus. The company offers a wide range of products including smart home IoT cameras, HD analog systems, advanced network cameras, body-worn and thermal cameras, and AI-powered solutions such as automatic number plate recognition, people counting, and heat FY2025, the company offered 2,986 SKUs and operated across 550+ cities and towns. It caters to both residential and enterprise customers with solutions such as smart Wi-Fi cameras, 4G dash cams, EV station management, IoT automation, and AI-enhanced CCTV systems. Aditya Infotech also provides field management services, door automation systems, and has recently introduced CP PLUS AI, an intelligent surveillance solution featuring advanced analytics. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
20 minutes ago
- Economic Times
Shanti Gold IPO subscribed 2.25x on Day 2; should you apply? Check GMP, review, and more
Shanti Gold International, a Mumbai-based manufacturer of 22kt CZ casting gold jewellery, operates primarily on a B2B model and caters to large retail chains. Synopsis The Shanti Gold IPO is priced in the range of Rs 189 to Rs 199 per share, with a minimum application size of 75 shares — translating to Rs 14,925 at the top end. Ahead of the issue opening, Shanti Gold International raised Rs 108 crore via anchor investors. Shanti Gold International IPO has gathered an overall subscription of 2.25 times as of 11:10 a.m. on Day 2, with strong interest from retail and non-institutional investors. The shares of the company commanded a grey market premium (GMP) of Rs 38 in the unlisted market, pointing to a potential 19% listing gain over the upper end of the price band set at Rs 199 per share. ADVERTISEMENT Shanti Gold International IPO is a fully fresh issue of 1.81 crore equity shares, amounting to Rs 360.11 crore. The IPO opened for bidding on July 25 and will close on July 29. On Day 1, the issue got off to a modest start, but picked up pace with retail investors leading the charge. On Day 2, the retail portion saw 3.49 times subscription for the 63.33 lakh shares reserved, while the Non-Institutional Investor (NII) segment was subscribed 2.48 times. QIBs, however, have so far shown limited interest, with only marginal bids received for their 36.19 lakh share allocation. The IPO price band has been set at Rs 189–199 per share, with investors able to bid for a minimum of 75 shares, amounting to Rs 14,925 at the upper end and in multiples thereafter. Ahead of the IPO, Shanti Gold International raised Rs 108 crore from anchor investors, with allocations going to names such as Societe Generale, Wealthwave Capital Fund, Rajasthan Global Securities, Astorne Capital VCC Arven, Shine Star Build Cap, Meru Investment Fund, and others, according to a filing on the BSE. Shanti Gold International is a gold jewellery manufacturer, and the positive grey market sentiment suggests confidence in the company's fundamentals, despite mixed institutional interest. The final day of bidding could still see a last-minute boost, particularly from QIBs, potentially lifting the overall subscription Gold International, a Mumbai-based manufacturer of 22kt CZ casting gold jewellery, operates primarily on a B2B model and caters to large retail chains including Joyalukkas, Lalithaa Jewellery Mart and Alukkas. ADVERTISEMENT Also read: GNG Electronics IPO: Allotment status released today, listing date: July 30 — Here's how to track itIts designs are sold across southern India, which currently contributes more than 70% of revenue. The firm plans to expand into North India with a new 1,200 kg manufacturing unit in Jaipur — a strategic move to enter the plain jewellery segment. ADVERTISEMENT Financially, the company has shown robust growth. Revenue rose from Rs 679 crore in FY23 to Rs 1,106 crore in FY25, while net profit surged from Rs 19.8 crore to Rs 55.8 crore during the same period, reflecting a strong CAGR of 68%.EBITDA margins have expanded steadily to 8.83%, and the return on equity (RoE) stood at a healthy 44.85% in FY25. The IPO values the company at a post-issue P/E of 19x, which is at a discount to the industry average of 23x. However, the price-to-book valuation at 7x appears slightly stretched compared to listed peers. ADVERTISEMENT Brokerages have recommended subscribing to the issue, citing strong financials, margin expansion, and a clear strategy to diversify its product mix and regional footprint."The company's robust relationships with marquee jewellers, expanding design capabilities (over 400 designs/month), and controlled in-house manufacturing give it scale and brand trust in the B2B jewellery segment," said Canara Bank Securities. ADVERTISEMENT While risks such as customer and regional concentration exist, the growth momentum and business fundamentals remain attractive. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
