Dish TV Board okays raising Rs 1,000 cr funds, setting up of wholly-owned subsidiary

The Board of Directors of Dish TV, at their meeting held on July 24, 2024, has inter-alia given its approval to raising of funds amounting to Rs 1,000 crore through equity shares or convertible bonds or debentures, etc. in one or more tranches. The Board also approved establishing a wholly-owned subsidiary of the company in India.

In a filing to the bourses, Dish TV stated that the Board has “considered and granted its In-Principal approval to explore and initiate the process of raising of funds through permissible means under applicable laws, including but not limited to, by way of, issue of equity shares/ convertible bonds/ debentures/ warrants/ preference shares/ foreign currency convertible bond (FCCB)/ any other equity linked securities and/ or any other securities, including through preferential issue on a private placement basis, qualified institutional placement or any other methods or combinations thereof, listed or unlisted, for an amount not exceeding Rs 1,000 crore, in one or more tranches, subject to such approvals as may be required.”

Dish TV further said that the Board also “considered and approved incorporation/ establishing of a Wholly Owned Subsidiary of the company in India with such name as may be approved by the concerned approving authority, inter-alia to undertake the business of distribution of products and services through a robust digital platform and also provide ancillary services”.

Dish TV proposes to infuse Rs 10 lakh towards the share capital of the wholly-owned subsidiary.