Dish TV shares zoom 8.5%; mcap rises by Rs 6,826 cr

Shares of Dish TV surged 8.5 per cent on a day when promoter group entities made an offer to buy an additional 26 per cent stake from public shareholders for Rs 3,701 crore.

The stock soared 8.13 per cent to end at Rs 79.80 on BSE today. Intra-day, it zoomed 10.43 per cent to Rs 81.50.

At NSE, shares of the company jumped 8.51 per cent to settle at Rs 80.25.

The company's market valuation soared Rs 6,826.07 crore to Rs 14,693.07 crore.

In terms of equity volume, 948.32 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.

In a public announcement made to shareholders, Dish TV promoter entities World Crest Advisors LLP, together with Veena Investments Pvt Ltd (persons acting in concert) and Direct Media Distribution Venture Pvt Ltd (persons acting in concert), announced an offer to acquire shares of Dish TV at a price of Rs 74 per share.

The offer is being made to all the shareholders of Dish TV to acquire up to 50.01 crore (50,01,87,979) shares of the company that form 26 per cent of the emerging share capital, payable in cash.