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News Corporation, the global media conglomerate more familiar with the Indian market through its brand Star is planning to hike its stake in the DTH venture Tata Sky.

Star India has filed with the Foreign Investment Promotion Board (FIPB) seeking approval to acquire 49% stake in Tata Group’s Investment firm TS Investments. TS Investments then purchase around 20% stake in Tata Sky for Rs 3240 million. The development was reported by the business daily The Economic Times.

Tata Sky is one of the leading players in the Direct-to-Home services market in the Indian sub-continent. Tata Group holds 70% ownership in the company with News Corp’s Sky having 20% stake. The remaining 10% stake is owned by the investment vehicle of Singapore Government Temasek Holdings.

According to the FIPB norms prevailing in India, foreign firms have a 20% limit to have direct holding in DTH operating firm. This norm was modified by the FIPB last year stating that the investment made by means of companies owned and controlled by Indians would not account for this cap limit.