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Dish
TV has said that it has "not been able
to complete the process of allotment of
these securities within the specified time
limit in the absence of any remittance from
the investor towards subscription to these
securities." The proposal for "issue
of the securities on a preferential basis
to the investor stands withdrawn and cancelled."
Dish
TV was to dilute 4.9 per cent and its chief
executive Arun Kapoor had told Indiantelevision.com
then that the amount raised would be used
for acquiring customers, buying set-top
boxes and building the brand.
In
the first tranche, Dish TV was to get Rs
1.25 billion via issue of 12.5 nillion equity
shares at Rs 100 per share, valuing the
DTH company at Rs 42 billion. The second
tranche would have raised the same amount
but through conversion of 9.6 million warrants
at Rs 130 per share.
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