Monday, June 8, 2009

Promoters sell stake in Dish TV

The promoters of Dish TV today sold over 5.5 crore shares at Rs 49 per share.

Jawahar Goel, managing director, Dish TV, said: "Promoters have ofloaded 55mn shares at Rs 49..this money has to come back to the company because we had the rights issue last year..." The promoter shareholding has now declined to 52.1%..

Rights Issue
51.81cr shares at Rs 22 per share
Issue to bring in Rs 1,139cr
promoters had underwritten the rights issue
Payment schedule of Rs 22
On application: Rs 6
Between 3-9 months of issue: Rs 8
Between 9-18 months: Rs 8

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