Independent News & Media said the value of its stake in Jagran Prakashan Limited would increase after the Indian newspaper publisher's flotation.
Independent News & Media said the value of its 26 per cent stake in JPL would grow to €53 million to €64 million from the €28 million it paid in June 2005 after JPL's flotation on the Bombay Stock Exchange.
JPL has announced an IPO price range of 270 to 324 rupees per share - which values JPL at €255 million to €306 million.
The media company is not selling any shares, and its holding will dilute to around 21 per cent following the issue of over 10 million new JPL shares.