Sun TV is preparing for potential SRH demerger, reports CNBC-Awaaz; shares rise up to 18%

As per the latest business developments, Shares of the Tamil Nadu-based entertainment firm were up for the eighth consecutive session and advanced 47% during the period and rose up to 18% on September 30. The shares surged after a CNBC-Awaaz note stated that the firm is preparing for a potential demerger of its cricket franchise, SunRisers Hyderabad's assets.

On the sectoral front, Nifty Media rose the most and was up almost 4%, fuelled by a sharp climb in Sun TV Network.

In the Nifty Media, shares of PVR Inox and Saregama India rose over 4% and 3%, respectively. It was the second straight session of upside for the sectoral index.

At 2:05 pm on September 30, Sun TV shares were trading 16.5% softer at Rs 646 apiece. Its market capitalisation stands at nearly Rs 25,500 crore.

"The news item is a rumour and the firm cannot comment on market rumours," the firm told bourses.

Sun TV Network Limited shareholders approved the adoption of audited financial statements for FY26 and confirmed interim dividends at its 41st Annual General Meeting held on September 18, 2026.

Out of 103,045 shareholders on the record date, votes were polled from holders of 39,40,84,620 shares, representing 94.25% of outstanding shares. The promoter group, holding 29,55,63,457 shares, participated fully via e-voting, casting 100% of their votes.

CNBC-TV18 noted, citing a brokerage report, that the IPL franchise could be valued between $1.4 billion-$1.5 billion, or approximately between Rs 13,000 crore – Rs 14,000 crore.

IPL-related topline accounted for 33% of Sun TV’s topline in the first quarter, according to the report.

The valuation of IPL franchises has risen sharply following major deals this year. Royal Challengers Bengaluru (RCB) is valued at around $1.78 billion, or approximately Rs 16,660 crore, while Rajasthan Royals (RR) is valued at around $1.63 billion, or approximately Rs 15,286 crore.