Dish TV India Ltd. to raise Rs 1000 crore

Dish TV India Ltd., a front-runner in the Indian DTH industry, has received approval from its Board to raise Rs 1,000 crore from the issue of shares and debt. The Board has approved the notice of postal ballot to seek the approval of shareholders to raise funds. This step is crucial for the company to formalise its capital-raising strategy and implement the proposed financial instruments.

The company has not yet decided on a method to raise capital but has floated the possibility of issuing equity shares, convertible bonds, debentures, warrants, preference shares, foreign currency convertible bonds, and any other equity-linked securities and any other securities, including through preferential issue on a private placement basis, qualified institutional placement or any other methods or combinations thereof, listed or unlisted as possible options, it said in an exchange filing.

The company also plans to establish a wholly-owned subsidiary to distribute products and services through a digital platform and provide ancillary services. The name of the subsidiary is pending approval from the concerned authorities. It will have a proposed capital of Rs 10 lakh and infuse the same amount towards the company’s share capital.

There will also be 100% subscription to the share capital of the proposed company under cash consideration.
BCS Bureau