New Delhi: Dish TV, a prominent Direct-to-Home (DTH) service provider, has announced plans to secure a significant capital infusion of up to Rs 1000 crore. The company is exploring various avenues to raise this amount, including issuing equity shares, convertible bonds, debentures, warrants, preference shares, and foreign currency convertible bonds (FCCBs). The decision was approved by the company’s board of directors at a recent meeting.
The funds raised will be utilized to bolster Dish TV’s operations and potentially fuel future growth initiatives. The company has also received the green light from its board to establish a wholly-owned subsidiary in India. This new entity, with an initial capital of Rs 10 lakh, will focus on distributing products and services through a robust digital platform.
ALSO READ: Social Panga to Spice Up Balaji Wafers’ Digital Presence
The subsidiary is expected to play a pivotal role in expanding Dish TV’s digital footprint and offering complementary services to its existing customer base.
In a regulatory filing to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), Dish TV disclosed its plans for fundraising and the formation of the subsidiary. The company will require necessary approvals before proceeding with the capital raise.
The announcement comes as Dish TV seeks to strengthen its position in the competitive DTH market. The infusion of fresh capital and the establishment of a new subsidiary are strategic moves aimed at enhancing the company’s overall business prospects.
