India’s oldest and first DTH platform operator Dish TV’s board has approved raising of Rs. 1,000 crore funds.
Dish TV India shares jumped 4.29 per cent to Rs 12.4 after the company said that its board approved raising upto Rs 1,000 crore through permissible modes in one or more tranches.
The board, at its meeting held on February 17, 2021 considered various options for fund raising and granted in- principal approval to explore and initiate the process of fund-raising through permissible modes and issue of permissible securities, for an amount up to Rs 1,000 crore, in one or more tranches (‘Issue’), in accordance with applicable laws, media reports said.
Dish TV India is engaged in the business of direct to home (DTH) and teleport services. The company’s segments include DTH and teleport service, and infra support services. It is also engaged in the business of broadcasting of other satellite telecommunications activities.
On a consolidated basis, the company posted a net profit of Rs 86.41 crore in Q3 FY21 as against a net loss of Rs 66.77 crore in Q3 FY20. Net sales declined 6% to Rs 815.67 crore in Q3 FY21 over Q3 FY20.