Dish TV gets board approval to raise up to Rs 1000 crore via rights issue
The board has also authorised the Fund Raising Committee to proceed with the rights issue
The Dish TV board, at its meeting held on February 17, 2021, had considered various options for fund-raising and granted in principle approval to explore and initiate the process of fund-raising through permissible modes and issue of permissible securities, for an amount up to Rs. 1,000 crores, in one or more tranches.
"The Board approved the raising of funds through Rights Issue by issuance of Fully paid-up equity shares of the Company for an amount aggregating up to Rs. 1000 crores (Rupees One Thousand crores) at price of INR 10 (Rupees Ten only) for each fully paid up equity share (including a premium of INR 9 per fully paid up equity share) to eligible equity shareholders of the Company as on the record date (to be finalised and notified subsequently) in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the "Rights Issue")," Dish TV said in a regulatory filing.
"Further, the Board authorised the 'Fund Raising Committee'' to proceed with the Rights Issue forthwith, and interalia decide the other terms and conditions of the Rights Issue including setting the record date, appointment of intermediaries as may be required, finalization of the Letter of Offer and other related matters."
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