The Hindu Business Line : Dish TV to get Rs 250 cr pvt equity

The amount will be raised in two equal tranches; Rs 125 crore will be raised through a private placement of about 4.9 per cent of its equity to Indivision India Partners, which will be allotted 125 lakh shares on a preferential basis at a price of Rs 100 a share. The company will also subscribe to more than 96 lakh warrants, convertible into equity shares at a price of Rs 130 per share within a period of 18 months from the date of issue of warrants. The allotment which received the board approval today is subject to regulatory approvals.

“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,” said Mr Subhash Chandra, Chairman Dish TV, in a statement.

It also quoted Managing Director, Mr Jawahar Goel on the company’s plans to expand the category faster, through various awareness building and promotional initiatives. The Gurgaon-based DTH operator claims it has signed up 1,26,000 subscribers last month, and now has a base of 2.6 million subscribers.

Special offer

The company has also announced a special offer for new subscribers, which includes a year’s subscription of its ‘maxi package’ of 145 channels including 20 audio services for the price of Rs 4,990. The DTH operator is hoping the offer along with the existing two price points (Rs 3,990 with 6 months’ subscription and Rs 3,150 with 3 months’ subscription of the maxi package) will give consumers who sign up before January 15, 2008 more choice.

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