DTH
Videocon d2h withdraws IPO application; Dhoot to visit Nasdaq
MUMBAI: The direct to home (DTH) arm of Videocon group, Videocon d2h has decided to withdraw its Rs 700 crore Initial Public Offer (IPO) proposal since the company is looking to start the process afresh.
In September 2014, the company had decided to file draft offer documents with the Securities and Exchange Board of India (SEBI). However, Videocon d2h, through its lead banker Axis Capital, withdrew the documents on 27 March.
Meanwhile, Videocon d2h executive director Saurabh Dhoot along with Silver Eagle chairman and CEO Harry Sloan will visit the Nasdaq Market Site in Times Square and will ring the Opening Bell 7 April at 9:15 am to 9:30 am ET (6:45 pm IST).
The operator had completed its initial listing on the Nasdaq Global Select Market through a business combination transaction with Silver Eagle Acquisition Corp, which is founded by Harry Sloan and Jeff Sagansky, pursuant to which Silver Eagle contributed approximately $273.3 million to Videocon d2h in exchange for equity shares of the operator which was represented by American Depositary Shares (ADSs), which were distributed to Silver Eagle’s stockholders. Public trading of the Videocon d2h ADSs on Nasdaq under the ticker ‘VDTH’ commenced at the opening of trading on 1 April this year.
On the day of the opening, the approximately $37.75 million Videocon d2h ADSs issued to Silver Eagle stockholders were valued at approximately $453 million based on the opening price of $12 per ADS on Nasdaq. Silver Eagle’s capital infusion in the operator represents one of the largest platform investment deals in Indian media by US investors.
Sloan based on reports had stated that US investor interest in the transaction has been strong as it affords US investors the opportunity to participate early in the US listing of Videocon d2h. “It is the fastest growing DTH Pay-TV operator in India and the fastest growing pay TV market in the world. Beyond this very significant organic growth, we will be exploring numerous possibilities for the company to expand as a force in India’s developing media business,” Sloan had remarked.
The regulator SEBI in February, had decided to keep the processing of the company’s offer document in “abeyance” following a request made by Videocon d2h in this regard. The company was looking at garnering Rs 50 crore through a pre-IPO placement of its shares to institutional investors, according to media reports. The funds were to be used for acquiring set-top boxes (STBs), outdoor units and accessories thereof, repayment/prepayment of certain indebtedness and general corporate purposes. In December 2012 too it had filed draft documents under the name ‘Bharat Business Channel’ with Sebi to raise Rs 700 crore through an IPO. But the company did not launch the same due to bad market conditions.
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.
