Disney to Exit Tata Play

Walt Disney Co. plans to sell its 29.8% stake in India’s largest satellite television operator Tata Play Ltd as it heads into an IPO for which it has filed a confidential offer document with the markets regulator. The Rs 2,500 crore IPO being managed by bankers Kotak Mahindra Capital, Citi, Morgan Stanley, IIFL, and Bank of America will also give an exit to another early investor, Baytree Investments (Mauritius), which acquired 10% of Tata Play in 2008.