DTH
Videocon d2h files for IPO to raise Rs 700 crore
MUMBAI: For the past couple of years, the stockmarkets have been going through rough weather dampening an entrepreneur’s desire to raise funds through the initial public offering (IPO) route. With a new government in place, and optimism returning, the queue has once again started being formed outside the Securities Exchange Board of India (Sebi) of those going in for IPOs. Shemaroo Entertainment earlier this month approached the public and now it is the turn of the direct to home (DTH) service provider Videocon d2h which has finally made its filing with Sebi to raise Rs 700 crore.
This is the second time the firm has proposed to go public. It had previously filed documents in December 2012 and had received a go ahead from SEBI but did not go ahead with the public float.
Seven banks – including UBS, Axis Capital, ICICI Securities, SBI Capital Markets, Yes Bank, IDBI Capital will manage the share sale.
As per the statement issued by the company, “The price band and the minimum bid lot will be decided by our company in consultation with the joint global coordinators and book running lead managers.”
The company is also considering a preferential issue of up to 5,000,000 Equity Shares, aggregating up to Rs 50 crore with certain investors.
“Our Company will complete the issuance and allotment of Equity Shares pursuant to the Pre-IPO Placement, if any, prior to the filing of the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the Issue size will be reduced to the extent of such Pre-IPO Placement, subject to the issue size constituting at least 10 per cent of the post-Issue paid-up Equity Share capital of our Company,” the notice also stated.
The company plans to spend a portion of the Net Proceeds of the issue towards acquisition of set-top boxes, outdoor units and accessories thereof from TEL, a Videocon Group entity.
“We propose to utilise Rs 350.83 crore of the Net Proceeds towards acquisition of set-top boxes and outdoor units from TEL,” the statement added.
The company is also looking to spend Rs 175 crore of the net proceeds to repay loans. “We may utilise a part of the Net Proceeds to repay/prepay certain term loan facilities availed from IDBI Bank Limited and ICICI Bank Limited, which are associates of the JGCBRLMs, IDBI Capital and I-Sec, respectively, and YES Bank, one of our JGCBRLMs.” The amount left will be used for other general corporate purposes.
The company commenced DTH operations in July 2009 and has grown its subscriber base from 0.44 million gross subscribers as of 31 March 2010, to 11.21 million gross subscribers, as of 30 June 2014, which represents approximately 16.2 per cent of the total DTH subscriber base in India.
For the first quarter of 2015 the company has approximately 27 per cent incremental market share of the DTH subscriber base in India.
The total income of the organisation for the three months ended 30 June 2014 was Rs 537.7 crore, during which time it generated net loss of Rs 78.15 crore. The firm has clocked a net loss of Rs 2,126 crore over the last five years.
DTH
DD Free Dish e-auction revenue dips to Rs 642 crore as slot sales fall
Revenue dips as revised norms reshape bidding in 94th round
NEW DELHI: Prasar Bharati’s DD Free Dish has closed its 8th annual, and 94th overall, e-auction for MPEG-2 slots with total collections of Rs 642 crore for the period April 1, 2026 to March 31, 2027.
That is lower than last year’s Rs 780 crore haul, with 55 slots sold compared with 61 in FY25–26. The softer topline reflects both a slimmer inventory and a recalibrated auction framework.
This was the first auction conducted after amendments to the e-auction methodology, including tighter eligibility norms and a revised reserve price structure for MPEG-2 slots. The stated aim was greater transparency and more serious participation. The immediate outcome appears to be more measured bidding in certain categories.
Day one set the tone. Eight slots were sold, six in the premium Bucket A+ and two in Bucket A. The strong early action in A+, which typically houses Hindi GECs and movie channels, reaffirmed the enduring appeal of mass Hindi programming on the platform.
Among the broadcasters securing slots in the initial rounds were Zee Entertainment Enterprises, Sony Pictures Networks India, Viacom18’s Colors network, Sun Network and Shemaroo Entertainment. Their continued presence signals that, despite the pull of digital platforms, Free Dish remains a strategic must have for legacy networks chasing scale in price sensitive markets.
The final bouquet of 55 channels leans heavily towards Hindi news, movies, devotional fare, Bhojpuri and regional programming.
In Hindi news, familiar heavyweights such as Aaj Tak, ABP News, India TV, News18 India, Republic Bharat and Zee News made the cut. Entertainment and movie offerings include Colors Rishtey, Star Utsav, Dangal TV, Sony Pal, Shemaroo TV, Goldmines, B4U Movies and Zee Biskope. Devotional viewers will find Aastha, Sanskar and Sadhna Gold among the selected channels.
Regional representation includes Sun Marathi, Fakt Marathi, PTC Punjabi and GTC Punjabi.
Equally telling were the absences. Broadcasters such as Big Magic, Filamchi Bhojpuri, India News, Bharat Express, Movieplex Maithili, TV9 Marathi, Shemaroo Marathibana, Zee Chitra Mandir and Satsang did not participate. The pullback is particularly visible across Marathi, Bhojpuri, Maithili and spiritual programming. Industry observers point to the revised reserve prices, tighter eligibility norms and a reassessment of commercial viability as possible factors.
DD Free Dish continues to beam into over 40 million homes, largely in rural and semi urban India. For advertisers and broadcasters alike, it offers efficient access to Bharat markets where pay TV penetration remains uneven and OTT subscriptions are limited.
The moderation in revenue this year may be read as a pause rather than a retreat. Fewer slots, a reworked auction playbook and evolving broadcaster strategies have clearly shaped outcomes. Yet premium Hindi entertainment retains its pull, and the platform’s mass reach remains hard to ignore.
As the FY26–27 line-up settles in, the mix of winners and walkaways will define the private satellite channel landscape on DD Free Dish for the year ahead.
