Apollo Global To Exit From Dish TV
Apollo Global Management Llc is in talks to sell its 11% stake in Dish TV India Limited, Reuters stated.
It has appointed UBS to run a process to sell its holding.
In 2009, Apollo picked up 11% stake in Dish TV for $100 Mn through the issue of GDR. Dish TV issued 11.7 Cr new shares of Re 1 in the form of 1.17 lakh GDRs each at a price of $854.5 translating into R 39.85/share.
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.
The company has a subscriber base of around 13.90 Mn subscribers, as on September 30, 2012, and continues to be a market leader holding 28.2% market share in a six player market.
In the space, Tata Sky was planning to raise R2000 Cr by offering 25% stake through an IPO; Videocon D2H television broadcast service provider was also planning to raise $150-$200 Mn through IPO.
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|Essel House, B-10, Lawrence Road, Industrial Area||
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