24% stake of Dish TV acquired by Yes Bank

Highlights :

24% stake of Dish TV acquired by Yes Bank through pledged shares*
Dish TV promotors owns 54.56% stake in the company, as of March 2020.
Now they were left with only 30% stake in the company.

*pledged shares means taking loan against the shares one holds. It can be done by both investors and promoters.

Banks can sell the pledge shares if the price of the stock falls closer to the value agreed in the contract between them and the company.

Yes Bank acquires 24% stake in Dish TV through pledged shares. Dish TV promoters own 54.56% stake in the company as of March 2020. Now they were left with only 30% stake in the company.

About Dish TV :

Dish TV is a company providing Direct to Home ( DTH ) television services in India, operted by the Zee Group and the Videocon Group.

Dish TV was launched by the Zee Group on 2nd October 2003. On 22 March, 2018 Dish TV completed a merger with Videocon D2H, creating the largest DTH provider in India.

Dish TV, at the time of launching, decided not to compete against the cable operators in urban and metro areas, but focused on providing services to rural areas and regions not serviced by cable TV.

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