Dish TV India to raise $100 mn via GDR

Dish TV India to raise $100 mn via GDR

Mumbai: Direct-to-home service provider Dish TV India on Monday said it will raise $100 million (about Rs464 crore) by way of issuance of securities in the international market.

The committee of directors approved raising $100 million by way of issuance of global depository receipts (GDR) convertible into equity shares, Dish TV India said in a filing to the Bombay Stock Exchange.

Each GDR represents 1,000 equity shares of the company. The issue price of the GDR has been fixed at Rs39.7 per share.

The company would issue 117,035 securities in the global markets, which represents over 11.70 crore equity shares of Dish TV India, the filing added.

Shares of Dish TV India were trading at Rs40.75 on the BSE, up 0.99% in morning trade.