Dish TV is planning to raise $100 Mn through GDR issue. The funds will be used for expansion projects and enhancing the subscriber base of the company.
Goldman Sachs is advising Dish TV for the issuance.
The company is offering close to 7% stake at a marginal discount to the current market price.
Incorporated in 2005, Dish TV India Limited is a part of the Essel group and provides direct to home (DTH) services. DTIL has highest transponder capacity in DTH industry in India, bandwidth capacity of 648 MHz with an ability to deliver more than 400 channels & services including 22 audio channels and over 40 HD services.
Dish TV has a vast distribution network with over 1,400 distributors and around 114,000 dealers that span across 8,500+ cities in India as on September 30, 2012.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.