Independent News & Media have sold its remaining shares in Indian newspaper group Jagran Prakashan Limited on the Bombay and National Stock Exchanges in India for approximately €32m.

MULTI-DISCIPLINED Indian media giant Jagran Prakashan Ltd (JPL) – in which Independent News & Media (INM) holds a 13.5% stake – has reported a 56.4% year-on-year increase in first-quarter after-tax profits to €7.4 million.