Dish TV board approves to raise funds upto USD 200 mn

[Sathish]

The board of directors of Dish TV India at its meeting held on May 28, 2009, has approved raising of long term funds by way of issuance of FCCB for an amount not exceeding USD 200 million subject to applicable laws and necessary statutory and regulatory approvals / filings.

The company is mainly in the business of providing direct-to-home (DTH) satellite television and teleport service, including placement and active service.

Under a scheme of restructuring, all distribution control system (DCS) business of Zee Entertainment Enterprise along with Siti Cable Network and New Era Entertainment Network was vested into the company.

Shares of the company gained Rs 1.05, or 2.2%, to trade at Rs 48.70. The total volume of shares traded was 4,281,487 at the BSE (2.43 p.m., Thursday).

[saurabh_g]

Dish TV to raise $200 mn via FCCB
http://www.business-standard.com/india/n...b/63078/on

Press Trust of India / Mumbai May 28, 2009, 14:52 IST

Zee group firm Dish TV today said it will raise up to $200 million (about Rs 953.88 crore) by way of foreign currency convertible bonds (FCCB).

"The board has approved the raising of long-term funds by way of issuance of FCCBs for an amount not exceeding $200 million," Dish TV said in a filing to the Bombay Stock Exchange (BSE).

Further, the direct-to-home services provider said it will allot 5,89,200 shares under its employee stock option plan (ESOP).

Besides, the board has approved the grant of 5,89,200 stock options convertible into equal number of equity shares to 13 employees at an exercise price of Rs 47.65 each under ESOP.

Shares of Dish TV were trading at Rs 48.80, up 2.41 per cent in late afternoon trade on the BSE.