Apollo India PE to sell up to 4.4% in Dish TV
The private equity fund will offload 2.93%-4.4% in block deals likely on Friday
Mumbai: Apollo India Private Equity is selling up to 4.4% in direct-to-home television services provider Dish TV India Ltd. for up to $75 million, according to a term sheet seen by Mint on Thursday.
The private equity fund will offload 2.93%-4.4% in block deals likely on Friday.
When contacted by phone, Mintoo Bhandari, managing director, Apollo Global Management (AGM) India Advisors Pte Ltd said the PE firm holds 8% in Dish TV, but declined to comment further.
An email sent to a Dish TV spokesperson remained unanswered.
In the quarter ended March, Dish TV India Ltd, a division of Zee Entertainment Enterprises Ltd, swung to a net profit of ₹ 35 crore from a loss of ₹ 149 crore a year ago. This was the company’s first quarterly profit in 11 years of operations.
On Thursday, Dish TV closed 4% lower at ₹ 109.60 on the BSE, while the 30-share benchmark index closed 1.1% higher at 27,115.83 points.
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