Monday, June 8, 2009

Dish TV to raise Rs 270 crore by selling 5.8 pc stake

Dish TV, leading DTH company, has said that its founders have sold 5.8 per cent stake in the company to raise Rs 270 crore.

The shares were sold at Rs 49 per share, Company sources said, adding that the raised amount will be used for getting hold of more customers for the next couple of years to face the high competition in the sector.

In May, the company had approved raising USD 200 million by foreign currency convertible bonds.

The shares in Dish TV today fell by 15 per cent, ending at Rs 45.50 at Bombay Stock Exchange, brokers said.

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