Yes Bank has acquired 44.53 crore equity shares amounting to 24.19 per cent of Dish TV India’s post-issue paid-up share capital as on March 31. The Dish TV shares each had a nominal value of one rupee.
The shares have been acquired pursuant to invocation of pledge of the shares subsequent to default or breach of terms of credit facilities sanctioned by Yes Bank to Essel Business Excellence Services, Essel Corporate Resources, Living Entertainment Enterprises, Last Mile Online, Pan India Network Infravest, RPW Projects, Mumbai WTR and Pan India Infraprojects.
“The shares have been acquired on invocation of pledge of shares and this is a one-time transaction,” said Yes Bank in regulatory filings at stock exchanges late on Friday.
Dish TV India is a direct-to-home entertainment service provider.
The company has a bandwidth capacity of 1,422 MHz with an ability to deliver more than 655 channels and services, including 40 audio channels and 70 HD channels and services.
It reported a consolidated total income of Rs 6,218.28 crore as on March 31, 2019. Dish TV India is operated by the Zee Group and the Videocon Group.