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Veena Investments, a part of the promoter group company, is set to acquire up to 11.40% in Dish TV.
The company has proposed to acquire up to 12,15,10,000 shares from Direct Media Solutions, another sister group company.
The acquisition of shares will take place on 20 July or any day thereafter within a period of 90 days by way of on-market inter se transfer of shares within the promoter group.
The volume-weighted average market price for a period of 60 trading days preceding the date of issue of this notice as traded on the stock exchange was Rs 91.74 per share.
The value price of these shares would be around Rs 1115 crore at Rs 91.74 per share.
After the transaction, Direct Media Solutions’ stake in Dish TV would reduce from 16.89% to 5.49%.
In other words, the company’s holding in Dish TV would go down to 5,84,90,000 from 18,00,00,000.
The inter se promoter transfer will have no impact on the operations of Dish TV.
Read more at: http://www.televisionpost.com/news/veena-investments-to-acquire-11-4-in-dish-tv-from-another-promoter-company/ | TelevisionPost.com
The company has proposed to acquire up to 12,15,10,000 shares from Direct Media Solutions, another sister group company.
The acquisition of shares will take place on 20 July or any day thereafter within a period of 90 days by way of on-market inter se transfer of shares within the promoter group.
The volume-weighted average market price for a period of 60 trading days preceding the date of issue of this notice as traded on the stock exchange was Rs 91.74 per share.
The value price of these shares would be around Rs 1115 crore at Rs 91.74 per share.
After the transaction, Direct Media Solutions’ stake in Dish TV would reduce from 16.89% to 5.49%.
In other words, the company’s holding in Dish TV would go down to 5,84,90,000 from 18,00,00,000.
The inter se promoter transfer will have no impact on the operations of Dish TV.
Read more at: http://www.televisionpost.com/news/veena-investments-to-acquire-11-4-in-dish-tv-from-another-promoter-company/ | TelevisionPost.com
