Dish TV Sells 11% Stake for $100mn

The DTH company, which is quite picking up in the Indian market Dish TV, owned by the Essel Group, sold its 11% stakes for $100mn to PE firm Apollo management.

The company has also informed BSE that it is raising $100 million from the issue of 117,035 global depository receipts at a price of $854.5 per GDR.

According to the reports, this is expected to raise an aggregate of $100 million from PE firm Apollo Management, which will hold 11% stake in Dish TV post the issue.

Apollo Management has previously invested in Hughes Network Systems, IntelSat, Sirius Satellite Radio, Swiss cable and Internet service provider CableCom and UnityMedia.