Tata Sky eyes stock market listing, set to file IPO prospectus with SEBI: Report
The IPO could possibly be launched before the end of this fiscal
As reported earlier, Tata Sky had reported a net loss of Rs 234 crore in FY20 compared to a net profit of Rs 364 crore in FY19. The DTH platform's operating income in FY20 stood at Rs 4691 crore. In the previous fiscal, the operating income was Rs 6113 crore.
The revenue for FY20 is lower than the previous fiscal due to netting off of broadcaster payout since the content cost is a pass-through under the new TRAI new tariff order (NTO), and hence will not be comparable to FY19.
Tata Sky commenced operations in 2004 as an 80:20 joint venture between Tata Sons and Network Digital Distribution Services FZ-LLC (NDDS), the investment arm of 21st Century Fox, which has been acquired by Disney. Tata Group, Disney and Temasek own 60%, 30%, and 10% stakes in Tata Sky respectively.
In fiscal 2008, Baytree Investments (Mauritius) Pte Ltd (Bay Tree), an affiliate of Temasek Capital (Pvt) Ltd acquired 10% of Tata Sky's equity shares. In fiscal 2010, TS Investments Ltd (TSIL) acquired 20% equity stake in Tata Sky. In fiscal 2013, Tata Opportunities Fund, through Omega FII Investments Pte Ltd (Omega), and Tata Capital Ltd acquired equity stake in Tata Sky.
Tata Sons, NDDS, TSIL, Baytree, Omega, and Tata Capital Ltd presently hold 41.49%, 20.0%, 20%, 10%, 7.8% and 0.71%, respectively, of Tata Sky's equity share capital.
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