Hindustan Times is offloading 20 per cent of its equity to Henderson Global Investors, an Australian private equity fund, in the first formal proposal for foreign direct investment in the print media in the news and current affairs sector.

This was disclosed by Hindustan Times Vice-Chairperson Shobhana Bhartia in response to questions by reporters after she paid a "routine courtesy call" on Information and Broadcasting Secretary Pawan Chopra in New Delhi.

Officials said this was the first proposal to come up for FDI in the print media in news and current affairs.

Bhartia said the divestment was well within the guidelines laid down by the government for attracting FDI in the print media. She saw no "stumbling block" in carrying out the proposal.

Bhartia declined to comment when asked whether the Hindustan Times group was planning to pick up stakes in Star News channel.