DTH

Apollo sells 4.4% stake in Dish TV for Rs 486 crore; Citigroup buys 2.6 crore shares

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MUMBAI: Apollo India Private Equity II (Mauritius) has raised approximately Rs 486 crore via a 4.4 per cent stake sale in Essel Group’s direct to home (DTH) company Dish TV. The company sold 4.7 crore shares in Dish TV at Rs 103.72 per share on the Bombay Stock Exchange (BSE) on 19 June, 2015.

Of the shares sold by Apollo, Citigroup Global Markets Mauritius snapped up 2.6 crore shares for Rs 103.65 per share totalling to approximately Rs 268.5 crore.

As on 31 March 2015, Apollo held an eight per cent stake in Dish TV through its outstanding global depository receipts (GDR). Apollo had acquired these shares at Rs 39.80 for a total consideration of Rs 465 crore (or $100 million) in 2009. Moreover in April this year, Apollo converted a part of the GDRs into equity shares and had sold it for Rs 262.5 crore via an open market transaction.

On 19 June (Friday), Dish TV India closed at Rs 105.60, down Rs 4, or 3.65 per cent on the bourses. The share touched its 52-week high Rs 117.25 and 52-week low Rs 55.40 on 17 June, 2015 and 26 September, 2014, respectively.

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