Dish TV To Raise Rs 1,000 Crore, Approves Establishing Subsidiary
The subsidiary will have a proposed capital of Rs 10 lakh and would infuse the same amount towards the company's share capital.
Dish TV India Ltd. aims to raise Rs 1,000 crore from the issue of shares and debt. In its board meeting, it also approved establishing a wholly owned subsidiary to undertake the business of distribution of products and services through a digital platform and provide ancillary services.
The company has not yet decided on a method to raise capital but has floated the possibility of "issue of equity shares, convertible bonds, debentures, warrants, preference shares, foreign currency convertible bonds, and 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" as possible options, it said in an exchange filing.
It has approved the notice of postal ballot for seeking the approval of shareholders for raising funds.
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.
There will also be 100% subscription to the share capital of the proposed company under cash consideration.
