Top Story

e4m_logo.png

Home >> Media - TV >> Article

Apollo Global earns Rs 486 crore in Dish TV stake sale

22-June-2015
Font Size   16
Share
Apollo Global earns Rs 486 crore in Dish TV stake sale

Apollo Global Management, a US private equity major, has sold 4.4 per cent stake in direct-to-home (DTH) company Dish TV. In the second tranche stake sale the firm earned Rs 486.57 crore, said a media report.

The firm in the name of Apollo India Pvt Equity II (Mauritius) Ltd. sold 46,911,765 shares (which are the 4.4 per cent stake) of Dish TV at an average share price of Rs 103.72 per share. The transaction is said to be through a block trade deal. Citigroup Global Markets picked up more than half of the shares (25,998,550 shares) at an average share price of Rs 103.65 and paid Rs 269.47 crore.

Apollo Global Management had earlier sold 3 per cent of its stake in Dish TV in April to earn Rs 262.53 crore. However, the shares were said to be sold at a much lower price of Rs 82.04 per share. It was picked up by Citigroup Global Markets and mutual fund under Birla Sun Life.

With the latest stake sale of Apollo, it has only 3.6 per cent stake in Dish TV remaining. The firm had invested Rs 465 crore ($100 million) in Dish TV in 2009 buying 11 per cent stake in it. It has now earned almost double with Rs 749.1 crore selling only 7.4 per cent stake in Dish TV.
 

Tags

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Software and Technology, Consulting, Healthcare seem to be increasingly using Webinars to engage with their clients and employees

Rahul Johri, CEO, Board of Control for Cricket in India (BCCI), spoke about the upcoming season of IPL and with Star India’s re-imagine approach, he made assured that this year will be a kickass seas...

At the “Dentsu Aegis Network-exchange4media Digital Advertising Conference,” Abrol shared insights on how digital is transforming the way they operate and grow

The Dentsu Aegis Network-exchange4media Digital Report 2018 that was unveiled on January 16, 2017