Dish TV announces private placement to raise Rs2.5bn

Indivision would subscribe to 12,500,000 equity shares of Dish TV at a price of Rs 100 per equity

The Board of Dish TV India Limited, the pioneer and leader in Indian DTH space, has approved a preferential allotment of equity shares and warrants to Indivision India Partners (IIP). Pursuant to this allotment, which is subject to regulatory approvals, Dish TV would raise equity funds of Rs1,250mn in the first tranche and another Rs1,250mn on conversion of the warrants.

The Board of Dish TV has approved a preferential allotment of equity shares and warrants to Indivision. Indivision will subscribe to 12,500,000 equity shares of Re1 each at a price of Rs100 per equity share. In addition, Indivision will also subscribe to 9,615,385 warrants, convertible into 9,615,385 equity shares at a price of Rs130 per equity share, within a period of 18 months from the date of issue of warrants.

Mr. Subhash Chandra, Chairman Dish TV, said, “We are happy to announce the participation of Indivision India Partners in our effort to provide consumers with unparalleled quality of digital television services directly to their homes. We are confident that Dish TV would deliver long term value to all its stakeholders.”

Commenting on the recent initiatives of the Company, Mr. Jawahar Goel, Managing Director, Dish TV said, “As the pioneer and leader of DTH in India, it as our responsibility to expand the category faster, through various awareness building and promotional initiatives and by giving customers a product proposition that is superior to other alternatives available in the market..”

Commenting on the recent marketing initiatives, Mr. Arun Kapoor, CEO, Dish TV said “To take our product message to market, we have signed on Mr. Shah Rukh Khan as our brand ambassador. Shah Rukh Khan embodies the personality and values of the dishtv brand. Values like entertainment, technology, innovation, vitality & family values. Since Shah Rukh Khan has popular appeal across all categories of Indians, this association is being supported by an all-new, high intensity advertising campaign across 4,300 cities and over 35,000 existing retail outlet base. The theme is that of coaxing consumers to “not be Santusht with their current state and Wish for More”. Hence the line “Wish Karo Dish Karo”.