Dish TV India Ltd board approves fund raising of Rs. 1000 crores through rights issue

The Board of Directors of Dish TV India Ltd at their meeting held today, i.e. June 21, 2021 has considered the recommendations of 'Fund Raising Committee' and thereby, subject to receipt of such corporate, regulatory and other approval(s) / consent(s), as may be required under applicable rules, regulations and laws, approved the fund raising of upto Rs. 1000 crores through rights issue of equity shares.

Subject to the above, 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 upto 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").

Further, the Board authorized the 'Fund Raising Committee' to proceed with Rights Issue forthwith, and 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.

Shares of DISH TV INDIA LTD. was last trading in BSE at Rs.15.02 as compared to the previous close of Rs. 14.82. The total number of shares traded during the day was 1868457 in over 5078 trades.

The stock hit an intraday high of Rs. 15.45 and intraday low of 14.36. The net turnover during the day was Rs. 28195998.

Source : Equity Bulls

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