DTH
Dish TV approves raising funds up to Rs 1000 crore
Mumbai: The Board of Directors of Dish TV, in their meeting on 24 July 2024, approved raising funds up to Rs 1,000 crore through equity shares, convertible bonds, or debentures, in one or more phases. They also sanctioned the establishment of a wholly-owned subsidiary in India.
The subsidiary will operate under a name approved by the relevant authority, focusing on distributing products and services through a robust digital platform and offering related services. The name of the subsidiary is pending approval from the concerned authorities. It will have a proposed capital of Rs 10 lakh and would infuse the same amount towards the company’s share capital.
In a regulatory filing, Dish TV stated that the Board has granted initial approval to explore and initiate the fundraising process through various permissible means under applicable laws. This includes issuing equity shares, convertible bonds, debentures, warrants, preference shares, FCCBs, or any other equity-linked securities. The fundraising amount will not exceed Rs 1,000 crore, to be conducted in one or more installments, subject to necessary approvals.
