wordpress blog stats
Connect with us

Hi, what are you looking for?

Dish TV Sells 11% Stake For $100M To PE Firm Apollo Mgmt

daDTH company Dish TV, owned by the Essel Group, has informed the BSE that it is raising $100 million from the issue of 117,035 global depository receipts (GDRs, with each GDR representing 1000 equity shares of Re. 1 each) at a price of $854.5 per GDR. This is expected to raise an aggregate of $100 million from PE firm Apollo Management, which will hold 11% stake in Dish TV post the issue.

Apollo Management has previously invested in Hughes Network Systems, IntelSat, Sirius Satellite Radio, Swiss cable and Internet service provider CableCom and UnityMedia. The deal is expected to close on November 30, 2009.

Funds To Be Used To Add More Users

The capital infusion will be used to expand Dish TV’s subscriber base, which was at 5.91 million, at the end of the quarter ended Sep 09. There are 15.17 million DTH connections in the country but there is plenty of room for growth. There are six other players in the DTH market in India: Tata Sky, Reliance ADAG’s BIG TV, Airtel Digital TV, Sun Direct, DD Direct and Videcon D2H.

Dish TV appears to be on the road to profitability, with a 18.8% decline in net losses to Rs. 561.33 million; revenues for the quarter ended September 2009 grew 4.37% sequentially.


The company has also been holding onto a Headend In The Sky (HITS) platform in expectation of the HITS policy which has recently been announced. It will now be transferred to its sister cable company WWIL. The company spent Rs. 35 million towards HITS  content costs in the last quarter and can expect returns now.


Dish TV Arpu Slips, Adds 0.4M Customers; Net Losses Down 18.8%
Scripps Networks Acquires NDTV Lifestyle For $55M
PVR Buys DLF’s DT Cinemas For Rs.560M, Equity To Major Cineplex Group
Dish TV & Indiatimes Bring Mobile Active To DTH; It’s A Start
TRAI Considers Bringing DTH Portability; Issues & Implications

You May Also Like


Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth...


The Delhi High Court on Monday refused to stop Amazon from pushing regulators to stop the sale of the Future Group’s businesses to Reliance...


Pine Labs has raised around $100 million in fresh funds from Lone Pine Capital, a hedge fund based in the United States, at a...


Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ