NEW DELHI: The promoter group entities of Dish TV India Ltd (Dish TV) have made an offer to buy an additional 26 per cent equity stake from public shareholders of the direct-to-home (DTH) operator for Rs 3,701 crore.
According to a release issued to the BSE today, Dish TV promoter entities World Crest Advisors LLP, along with Veena Investments Pvt Ltd and Direct Media Distribution Venture Pvt Ltd, announced an offer to acquire shares of Dish TV at a price of Rs 74 per share.
The offer is being made to all the shareholders of Dish TV to acquire up to 50.01 crore shares of the company that form 26 per cent of the emerging share capital, payable in cash.
Last month, the long drawn out merger of Dish TV and Videocon d2h Ltd (Videocon d2h) finally came to pass. The combined entity, to be named Dish TV Videocon, will have approximately 29 million subscribers, making it the second largest DTH company in the world. There was a halt in the merger scheme about three months ago when Dish TV wanted Videocon d2h to clarify some of the insolvency proceedings against it.
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