Dish TV to explore fund-raising upto Rs 1,000 crores

Dish TV to explore fund-raising upto Rs 1,000 crores

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Essel Group-owned Direct-to-Home (DTH) operator Dish TV India Limited today got the nod from its Board of Directors to explore and initiate the process of fund-raising through permissible modes and issue of permissible securities for an amount upto Rs 1,000 crores in one or more tranches.

The Board of Directors today met in a meeting to consider various options for fund raising and granted in principal approval subject to corporate, regulatory, and Board approvals as may be required under applicable rules, regulations, and laws.

Dish TV India has also constituted ‘Fund Raising Committee’ for recommending, taking actions and monitoring in the matters of raising funds and related matters thereof.

Keeping in mind the requirement for funds in the Company, the Board, at its meeting held today, i.e., February 17, 2021 considered various options for fund raising and granted in principal approval to, subject to such corporate, regulatory and Board approval(s), as may be required under applicable rules, regulations and laws, explore and initiate the process of fund-raising through permissible modes and issue of permissible securities, for an amount upto Rs. 1,000 crores, in one or more tranches (‘Issue’), in accordance with applicable laws. In this regard, the Board has constituted ‘Fund Raising Committee’ for recommending, taking actions and monitoring in the matters of raising funds and related matters thereof,” said Dish TV India in a regulatory filing.

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