India’s largest DTH platform Dish TV India needs Rs4.5bn (US$82m) in funding for the first phase of the digitisation process, of which Rs900m (US$16.4m) is expected to be in the form of debt, according to local reports citing a source close to the…
India’s largest DTH platform Dish TV India needs Rs4.5bn (US$82m) in funding for the first phase of the digitisation process, of which Rs900m (US$16.4m) is expected to be in the form of debt, according to local reports citing a source close to the matter.
The company reportedly has already Rs3.6bn in cash and expects to raise the remaining Rs900m via the capital markets.
However, Dish TV, which had long-term debt of Rs12bn (US$219m) as of the end of March, has no plans to dilute equity at this stage, the source added.
The company was not available for comment before the press deadline.
During a an event organised by its partner Telenor Broadcast in late April, Rajiv Khattar, president of projects at Dish TV said that the digitisation process in India has been slow because of a lack of incentive to do so.
But once digitisation is fully underway, at the end of June, it will likely spur both the satellite TV and cable TV industries, Khattar added.
Separately, he also said that he expects consolidation in the Indian DTH market soon. “There are currently six players in the market and two of them are looking to consolidate,” said Khattar while declining to name the two companies.
