Dish TV India plans $240 mn rights issue

Dish TV India plans $240 mn rights issue


Mumbai: Satellite television provider Dish TV India Ltd plans to raise Rs11.4 billion ($240 million) through a rights issue priced at Rs22 a share.

In a weekend statement, the company said it would offer 121 rights shares for every 100 held.

Indian firms have raised $4.8 billion in rights offers so far in 2008, compared to $3.5 billion in all of 2007, according to Thomson Reuters data.

Rights issues of top vehicle maker Tata Motors and aluminium firm Hindalco Industries are currently open for subscription. The two issues together could raise $2 billion.