Dish TV lenders claim pledged shares and sell 3.85 shares cr

DTH service provider Dish TV said on Tuesday that lenders had sold 3.85 crore of shares of pledged promoters, as a result of which the stake of promoter group company Direct Media Distribution Ventures Pvt Ltd fell by 2 , 09%. In a regulatory filing, Dish TV India stated that “3,85,65,000 shares have been sold by the lenders to whom the Dish shares have been pledged.”

These shares were sold in four tranches between June 23 and July 9, 2020.

According to the regulatory filing, 1.12 crore shares were sold on June 23, 7.50 lakh shares on June 25, over 1.57 crore shares on June 26 and over 1.08 crore shares were sold on July 9 2020.

After the deal, Direct Media Distribution Ventures Pvt Ltd’s stake in Dish TV stood at 12.94 percent, up from 15.03 percent earlier, the record added.

In May, had acquired more than 24 percent stake in Dish TV India following the invocation of shares pledged due to default by service provider DTH and other group companies .

Yes Bank Limited, following the invocation of pledged shares, acquired 44 53 48 990 shares of Dish TV India Limited, representing approximately 24.19% of the share capital released after the issue on March 31, 2020, a- she declared. in a regulatory file.

Shares of Dish TV were trading down 4.38% at 7.43 rupees each on BSE.