India’s Dish TV raising $200m in new equity

Subhash Chandra’s Dish TV pay-TV operation in India is to raise $200 million in order to fund expansion. Dish TV is India’s largest DTH broadcaster. Dish TV has already tabled a shareholder’s resolution agreeing to raising $200 million, although it subsequently saw $100 million of fresh investment coming in from US-based Apollo Management.

Dish TV is looking to raise its current 3.1 million DTH subs to nearer 10 million.  Competition is extremely tough in the Indian market although most local analysts suggest that up to 11 million new DTH subscribers will be created across the whole market.

Dish TV itself has seen impressive growth. Says Dish TV India chairman Subhash Chandra, “With 2.8 million subscribers added in the second quarter, the overall market for DTH in the country has already grown to more than 26 million households. In a strong six player market, incremental share over and above a secular number is laudable. Dish TV with an incremental market share of 27 per cent continues to deliver industry leading performance.”

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