International Business

Dish TV to raise $200 mn via securities issue

Direct-To-Home company Dish TV today said it will raise up to $200 million (about Rs 1,000 crore) through issue of securities in the domestic and international market. - Bulls fight back, Sensex gains 250pts - HCL Infosystems gains 6% on fund raising plans - Castrol India surges over 5% - Sensex strong, up 240pts - Sensex pares gains, up 230pts - Sensex near 52-week high; autos outperform while metals lag The shareholders at the Annual General Meeting have approved the allotment of securities including issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts (GDRs) and also private placement of shares to institutional investors for raising an aggregate amount of $200 million. Further the shareholders have increased the borrowing limit of the company to Rs 3,000 crore at any point of time. On May 2008, the company"s borrowing limit was at Rs 2,000 crore. Shares of Dish TV were trading at Rs 4.25, up 0.93 per cent in the late afternoon trade on the BSE.

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