Tata Group was considering making an offer to buy back Temasek’s stake of about 20% of the content distribution platform, Bloomberg News reported in July. The conglomerate was weighing delaying a potential initial public offering for Tata Play, despite receiving the green light from regulators to proceed, people familiar with the matter said at the time.
Tata Group is in advanced discussions with Temasek Holdings to repurchase a stake in Tata Play at a valuation exceeding $1 billion. The Indian conglomerate aims to strengthen its control over the entertainment content distribution platform by potentially acquiring a stake held by its private equity fund Tata Opportunities Fund.