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| Dish TV announces pricing of GDR offering |
| BS Reporter / Mumbai Nov 23, 2009, 11:47 IST |
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Dish TV’s board of directors, at its meeting held today, approved the pricing of the Global Depository Receipt (GDR) issue. The issue price of $854.50 per GDR, representing 1,000 underlying company shares of Re 1 each.
The relevant date for pricing the issue is November 23 as per the Foreign Currency Convertible Bonds (FCCBs) and ordinary shares via depository receipts mechanism scheme, 1993, as amended.
Dish TV’s Board of Directors, today, also approved the creation, issue, offer and allotment of securities by way of an issue of equity shares of Re 1 each in the form of GDRs, in accordance with applicable law including the Foreign Currency Convertible Bonds (FCCBs) and ordinary shares Scheme, 1993, as amended, up to the extent of outstanding shares permitted under the authorized share capital of Dish TV with the proceeds from the issue not exceeding $100 million.
The determination of the minimum price at which the shares may be issued pursuant to the GDR issue, the relevant date, for the GDR guidelines, shall be November 23.
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