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Photo: Priyanka Parashar/Mint
Photo: Priyanka Parashar/Mint

Dish TV lenders sell 3.85 crore pledged shares

  • Shareholding of the promoter group firm Direct Media Distribution Ventures Pvt Ltd comes down by 2.09%
  • The shares were sold in four tranches between June 23-July 9, 2020

NEW DELHI : DTH service provider Dish TV on Tuesday said lenders have sold 3.85 crore pledged promoters' shares, following which the shareholding of the promoter group firm Direct Media Distribution Ventures Pvt Ltd has come down by 2.09%.

In a regulatory filing Dish TV India said "3,85,65,000 shares have been sold by the lenders to whom shares of Dish have been pledged".

These shares were sold in four tranches between June 23-July 9, 2020.

As per the regulatory filing, 1.12 crore shares were sold on June 23, 7.50 lakh shares on June 25, over 1.57 crore shares on June 26 and more than 1.08 crore shares were sold on July 9, 2020.

Post the transaction, Direct Media Distribution Ventures Pvt Ltd's stake in Dish TV stood at 12.94%, as against 15.03% earlier, the filing added.

In May, Yes Bank had acquired over 24% stake in Dish TV India following invocation of pledged shares due to debt default by the DTH service provider and other group firms.

Yes Bank Limited, pursuant to invocation of pledged shares, has acquired 44,53,48,990 equity shares of Dish TV India Limited constituting approximately 24.19% of the post-issue paid-up share capital as at March 31, 2020, it had said in a regulatory filing.

Shares of Dish TV were trading 4.38% lower at 7.43 apiece on the BSE.

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