Dish TV to raise $200 mn via FCCB

Zee group firm Dish TV today said it will raise up to $200 million (about Rs 953.88 crore) by way of foreign currency convertible bonds (FCCB).

"The board has approved the raising of long-term funds by way of issuance of FCCBs for an amount not exceeding $200 million," Dish TV said in a filing to the Bombay Stock Exchange (BSE).

Further, the direct-to-home services provider said it will allot 5,89,200 shares under its employee stock option plan (ESOP).

Besides, the board has approved the grant of 5,89,200 stock options convertible into equal number of equity shares to 13 employees at an exercise price of Rs 47.65 each under ESOP.

Shares of Dish TV were trading at Rs 48.80, up 2.41 per cent in late afternoon trade on the BSE.