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On Tuesday Dish TV Ltd said that its board will meet next week to contemplate raising up to Rs 1,000 crores through the issue of permissible securities.
The DTH service provider’s board had a meeting on February 7 this year to consider multiple options for fundraising. The grants for in-principal approval to examine and induct the process of fundraising through permissible modes and issue of permissible securities, for an amount up to Rs 1,000 crore, in one or more parts were also in place.
Later on February 17, the board established a ‘Fund Raising Committee’ for “recommending, taking actions and monitoring in the matters of raising funds and related matters thereof”, Dish TV said in a regulatory filing.
A board meeting is cataloged to be held on Monday, June 21 to examine the proposition for fundraising by the issue of permissible securities, encompassing rights issue, preferential issue or by the means of any other admissible method or a combination of methods, Dish TV mentioned.
Just last month the company collaborated with the content house, JOP Network Pvt Ltd to bring back dubbed movie service via a platform called Hits Active. Dish TV India Ltd CEO, Anil Dua said that this collaboration between “like-minded” brands such as JPO Network helps them stick to their ideologies and provide engaging and enriching content for all. Dish TV is taking on many endeavors this year.