DISH TV to raise funds via rights issue

DISH TV closed up by more than 2 per cent on Monday. The stock has gained more than 17 per cent in one month and on YTD basis the stock is up by 12.69 per cent.

The board members of Direct-to-Home Company Dish TV India announced on Monday that it has decided to raise Rs 1,000 crore via rights issue; The Company said in its filing that proceeding is subject to corporate, regulatory and other approvals.

In its stock exchange filing on Monday the company said, “ The Board approved the raising of funds through Rights Issue by issuance of Fully paid-up equity shares of the Company for an amount aggregating up to Rs. 1000 crores (Rupees One Thousand crores) at price of INR 10 (Rupees Ten only) for each fully paid up equity share (including a premium of INR 9 per fully paid up equity share) to eligible equity shareholders of the Company as on the record date (to be finalised and notified subsequently) in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the "Rights Issue").”

DISH TV closed up by more than 2 per cent on Monday. The stock has gained more than 17 per cent in one month and on YTD basis the stock is up by 12.69 per cent. In one year the stock is up by more than 73 per cent. In 2021 Dish TV has given negative returns in Jan, Feb and March. In April the stock remained flat and in May the stock jumped by 58.92 per cent, In June so far the stock is up by 0.33 per cent.