News, Scrip Scan

Dish TV promoters may sell 58% stake to Bharti arm, Warburg Pincus for about Rs 5,000cr

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

Dish TV promoters may sell 58% stake to Bharti arm, Warburg Pincus for about Rs 5,000cr

If the deal goes through, it would be the second biggest merger in the Indian DTH space

Promoters of Dish TV might sell their 58 percent holding in the company to Bharti Airtel’s DTH arm for around Rs 5,000 crore, Business Standard reports.

Airtel Digital TV and private equity firm Warburg Pincus are likely to partner and purchase the Goel family’s stake for Rs 45-50 per share, or between Rs 4,800 crore and Rs 5,300 crore, the report said.

Discussions between Airtel and Dish TV began in March, the report stated. The Goel family had initially quoted Rs 62 per share for the transaction. But the offer price was lowered due to high promoter debt and rising prominence of JioFibre.

If the deal, which is likely to be finalised next month, goes through, it would be the second biggest merger in the Indian direct-to-home (DTH) space. Dish TV will be main brand after the merger.

Moneycontrol could not independently verify the story.

Airtel wants to merge Dish TV with Airtel Digital TV through a share swap after acquiring the former’s promoter stake and making an open offer for a 20 percent stake, the report said.

The Jawahar Goel-controlled Dish TV is facing financial hurdles, with the promoters pledging 94.6 percent of their 58 percent stake. Part of the proceeds raised will be used to repay their debt of over Rs 16,000 crore, the report added.

https://www.moneycontrol.com/news/business/dish-tv-promoters-may-sell-58-stake-to-bharti-airtel-warburg-pincus-for-about-rs-5000cr-4167891.html

Excerpts from Gaurav’s Blog

  Rest in Peace now Gerela Saab  ! Mr S T Gerela ex GM of BSE passed away peacefully this morning We had not met in years but he always remained at the top of my mind when it came to testimonials for this is what he had said to me over a decade ago,when […] [...]

Vedanta de-listing offer price Rs 87.50~Come on Mr Anil Agarwal ! Promoter Group of  Vedanta Ltd has proposed a voluntary de-listing at an indicative offer price of Rs 87.50~are the over 7.3 lakh minority shareholders from Alibag !? …apologies to the people of Alibag Some would term this as De-listing Duplicity ~ but I would […] [...]

This is a Riskless Reliance Industries Rights Investment Strategy for those over 2.3 Million Shareholders already holding RIL shares. It is not a recommendation to buy RIL cum rights  It’s a no brainer yet I’m just penning a brief note because some have told me they hold Reliance but are skipping the Rights ! Don’t […] [...]

 Wealth is negotiable, Health is not Your Personal Well Being is more important that the Stock Market Well Being ~ Always & more so in this unfathomable ongoing Covid-19 Reality Above’s a three minute reach out by me last night to all connected with me to reinforce this .It’s also posted on Facebook , […] [...]

Yes Bank ~ Has the RBI & MOF lost it !? SEBI really is a bystander here Controversial Lock In Clause 3 Sub Clause 8 (a) in the Scheme of Reconstruction  No wonder the Finance Minister Mrs Nirmala Sitharaman, while highlighting only selected points, even when asked for details of the Scheme,did not want to […] [...]