DTH

Videocon d2h rings opening bell at Nasdaq

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MUMBAI: Direct to home (DTH) operator Videocon d2h has become the first Indian media company to ring the opening bell at Nasdaq stock market in New York on 7 April.

The DTH operator has with this become the first Indian private company since 2000 to list overseas, issuing ADR worth $325 million to the public.

To mark the celebrations, member of parliament, India Rajkumar Dhoot and Videocon d2h managing director Saurabh Dhoot visited the Nasdaq market site at Times Square and rang the symbolic opening bell.

At an approx market cap of $1.15 billion, Videocon d2h has become the most valued Indian company at Nasdaq.

Saurabh Dhoot said, “Our listing on the Nasdaq Stock Exchange is a major corporate milestone for the entire Indian media industry not just Videocon d2h and a testament to the tremendous progress we have made under the Digital India vision of our Prime Minister. This is the success of thousands of Videocon d2h employees working tirelessly and our customers who believed in our brand, product and services. We have just begun…”

As reported earlier by indiantelevision.com, the DTH operator had decided to withdraw its Rs 700 crore Initial Public Offer (IPO) proposal since the company is looking to start the process afresh.

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