MUMBAI: Reliance Vision Fund - a scheme of Reliance Capital Mutual Fund (RCMF) has picked up 470,933 equity shares of Television Eighteen India Ltd representing 3.24 per cent of the company's total paid up share capital.

However, the said acquisition does not increase the total stake of Reliance Capital Mutual Fund in the paid up capital of TV Eighteen. According to market sources, RCMF has merely transferred its investment in TV Eighteen from one fund scheme to another - in this case, from Reliance Growth Fund to the Reliance Vision Fund.

The stake acquisition was made in the open market on 15 March 2004.

With this acquisition, the total shareholding of Reliance Vision Fund in TV Eighteen stands at 955,933 equity shares representing 6.58 per cent of the paid up share capital.

Ownership structure of Television Eighteen as on 31 December 2003:

As per shareholding data available as on 31 December 2003, Reliance Capital holds over 1.1 million shares in TV Eighteen - 0.595 million shares through Reliance Growth Fund and 0.55 million shares through Reliance Vision Fund.