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Private equity major, Apollo is raising upto $75 million by selling up to 4.4% of its stake in direct-to-home operator, Dish TV through a book building issue which opened on Wednesday.
As per the terms of the transaction, the base offer size will be $50 million, which is 2.93% of Dish TV’s outstanding share capital with an option to sell more shares depending on demand from the investor.
The private equity major is offering upto 7% discount to Dish TV's closing price of Rs 109.70 on the BSE. The price band for the offer is between Rs 102 and Rs 109.7 per share.
The settlement date for the offer is June 23.
Dish TV posted a standalone net profit of Rs 1.01 crore for the year ended March 31, 2015 as compared to net loss of Rs 154.21 crore in FY14. Total Income increased from Rs 2,575 crore the previous fiscal to Rs 2,836.32 crore in FY15.
The consolidated net profit stood at Rs 3.14 crore for the year ended March 31, 2015 as compared to net loss of Rs 157.61 crore for FY14. Total Income increased from Rs 2,573.86 crore in FY14 to Rs 2,845.14 crore in FY15.
As per the terms of the transaction, the base offer size will be $50 million, which is 2.93% of Dish TV’s outstanding share capital with an option to sell more shares depending on demand from the investor.
The private equity major is offering upto 7% discount to Dish TV's closing price of Rs 109.70 on the BSE. The price band for the offer is between Rs 102 and Rs 109.7 per share.
The settlement date for the offer is June 23.
Dish TV posted a standalone net profit of Rs 1.01 crore for the year ended March 31, 2015 as compared to net loss of Rs 154.21 crore in FY14. Total Income increased from Rs 2,575 crore the previous fiscal to Rs 2,836.32 crore in FY15.
The consolidated net profit stood at Rs 3.14 crore for the year ended March 31, 2015 as compared to net loss of Rs 157.61 crore for FY14. Total Income increased from Rs 2,573.86 crore in FY14 to Rs 2,845.14 crore in FY15.
