Dish TV announces plans to raise Rs 1000 crore

Delhi: Dish TV, a DTH operator, has announced its plans to raise Rs 1000 crore in funds by issuing equity shares/ convertible bonds/ debentures/ warrants/ preference shares/ foreign currency convertible bonds (FCCB), among other things.

“The Board of Directors of the company, at their meeting held today has considered and granted its In-Principal approval to explore and initiate the process of raising funds through permissible means under applicable laws including but not limited to, by way of, issue of equity shares/ convertible bonds/ debentures/ warrants/ preference shares/ foreign currency convertible bond (FCCB) / any other equity-linked securities and/ or 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, for an amount not exceeding Rs 1000 crores, in one or more tranches, subject to such approvals as may be required,” the official communique of the company sent to NSE and BSE, said.

Additionally, the DTH operator mentioned in its letter to the NSE and BSE that it would establish a wholly-owned subsidiary of the company in India, infusing approximately Rs 10 lakh towards the share capital.

“The Board of Directors has considered and approved incorporation/ establishing of a wholly owned subsidiary of the company in India with such name as may be approved by the concerned approving authority, inter alia to undertake the business of distribution of products and services through a robust digital platform and also provide ancillary services,” the letter added.