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Promoter group entities of Dish TV have made an offer to buy an additional 26 per cent equity stake from public shareholders of the direct-to-home (DTH) player for Rs 3,701 crore.
In a public announcement made to the shareholders, Dish TV promoter entities World Crest Advisors LLP, together with Veena Investments Pvt Ltd and Direct Media Distribution Venture Pvt Ltd, have made an offer to acquire the shares of Dish TV at Rs 74 per share.
The offer is being made to all the shareholders of Dish TV to acquire up to 50.01 crore (50,01,87,979) shares that form 26 per cent of the emerging share capital, payable in cash. The open offer price is about 3 per cent lower than the current price of Dish TV at Rs 76 on the BSE.
Merger of DTH operators Dish TV India and Videocon d2h was completed last year after over a year of snag.
Shares of Dish TV were trading 2.98 per cent higher at Rs 76 apiece on the BSE on the BSE.
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