Mumbai: Videocon Industries Ltd is targetting 1.5 million subscribers for its direct-to-home (DTH) service, riding on its large network of consumer appliance dealers, its top official said.

The company has developed new liquid crystalline design televisions that can directly receive DTH signals and is aiming for a 20 June launch, Chairman Venugopal Dhoot told television channel NDTV Profit on Monday.

“No set-top box is required,” Dhoot said. “We are also giving this (technology) through different models.”

“We have already invested around Rs500-600 crores (Rs5-6 billion) and further investments will be made as required,” he added.

The electronics and appliance maker also plans to rope in foreign investors once the service acquires a sizeable customer base, he said.

Videocon will be entering a market that already has large competitors including Sun Direct, Tata Sky, Dish TV, majority owned by Zee Entertainment Enterprises, and Reliance Communications Ltd’s BIG TV.

At 2.57 pm, shares of the company were down 3.89% at Rs176.5 in a weak Mumbai market.