Dish TV India announced that its board has approved raising of funds for an amount not exceeding Rs 1,000 crore, in one or more tranches, subject to such approvals as may be required.
The company will raise funds 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.Further, the board of directors has approved incorporation of a wholly owned subsidiary to undertake the business of distribution of products and services through a robust digital platform and also provide ancillary services. The firm would infuse Rs 10 lakh towards the share capital.
Dish TV India is engaged in the business of providing Direct to Home ('DTH') television and Teleport services. On consolidated basis, the company's net profit declined 28.3% to Rs 22.08 crore on 17% decrease in net sales to Rs 596.31 crore in Q2 FY23 over Q2 FY22.
On consolidated basis, the company's reported net loss of Rs 1989.69 crore in Q4 FY24 as against a net loss of Rs 1720.62 crore in Q4 FY23. Net sales declined 19.4% YoY to Rs 406.95 crore in March 2024 quarter.
The scrip jumped 6.49% to close at Rs 15.91 on Wednesday, 24 July 2024.
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