Dish TV to raise Rs 250 crore for expansion

MUMBAI: DTH service provider Dish TV India Limited, will raise Rs 250 crore for its expansion and promotional activities. Dish TV had recently appointed Shah Rukh Khan as their brand ambassador and rolled out a new campaign with the tag line ‘Wish Karo Dish Karo’. A high intensity ad campaign will roll soon across 4,300 cities and over 35,000 existing retail outlet base.


Dish TV managing director Jawahar Goel says, “As the pioneer and leader of DTH in India, it as our responsibility to expand the category faster, through various awareness building and promotional initiatives and by giving customers a product proposition that is superior to other alternatives available in the market.”


Dish TV will issue securities on a preferential allotment of equity shares and warrants to Indivision India Partners (IIP) Mauritius based Private Equity Fund. Pursuant to this allotment, which is subject to regulatory approvals, Dish TV would raise equity funds of Rs 1,250 million in the first tranche and another Rs 1,250 million on conversion of the warrants. The Board of Dish TV has approved a preferential allotment of equity shares and warrants to Indivision.


Commenting on the same, Dish TV chairman Subhash Chandra says, “We are happy to announce the participation of Indivision India Partners in our effort to provide consumers with unparalleled quality of digital television services directly to their homes. We are confident that Dish TV would deliver long term value to all its stakeholders.”


Dish TV CEO Arun Kapoor says, “To take our product message to market, we have signed on Shah Rukh Khan as our brand ambassador. Shah Rukh Khan embodies the personality and values of the dishtv brand like entertainment, technology, innovation, vitality & family values. Since Shah Rukh Khan has popular appeal across all categories of Indians, this association is being supported by an all-new, high intensity advertising campaign across 4,300 cities and over 35,000 existing retail outlet base. The theme is that of coaxing consumers to “not be Santusht with their current state and Wish for More”. Hence the line “Wish Karo Dish Karo”.


Indivision will subscribe to 12,500,000 equity shares of Re. 1/- each at a price of Rs. 100 per equity share. In addition, Indivision will also subscribe to 9,615,385 warrants, convertible into 9,615,385 equity shares at a price of Rs 130 per equity share, within a period of 18 months from the date of issue of warrants.


Dish TV now has a gross registered subscriber base of 2.6 million.