Dish TV promoter entities offers to buy 26 per cent stake from public

The promoter group companies of Dish TV have made a public offer to buy an extra 26 per cent equity stake from the public shareholders of the company for about Rs. 3,701 crore.

In a public announcement, the direct-to-home (DTH) player’s promoter entities World Crest Advisors LLP; Veena Investments; and Direct Media Distribution Venture announced an offer to acquire shares of Dish TV at Rs. 74 apiece.

The offer was made to all the shareholders of Dish TV to acquire up to 26 per cent or 50,01,87,979 (50.01 crore) equity shares of the company, payable in cash.

At 12:00 hours, Dish TV was trading at Rs. 76.35 per share, up Rs. 2.40 or 3.25 per cent on NSE. The scrip opened at Rs. 75.50 per share and touched an intraday high of Rs. 78.20 per share on NSE. The stock has a 52-week high of Rs. 103.50 and 52-week low of Rs. 63.70 per share on NSE. The stock attracted a traded volume of 1,60,96,055 shares on NSE.