Sun TV Network Ltd has informed BSE about the utilization of issue (IPO) proceeds as under:

"Against the total projected utilization of Rs 522 Crores upto March 31, 2007 from the IPO funds, an amount of Rs 282 Crores has been utilized towards capitalization of subsidiaries and Rs 14 Crores towards purchase of new equipment and up gradation of existing equipment. The balance proceeds from IPO after meeting the IPO expenses, pending utilization have been invested in Fixed Deposits with Banks."