On May 30, 2020, Private sector lender Yes Bank Limited has acquired a 24.19% stake in Dish TV India Ltd, a company providing Direct to Home (DTH) television service in India, following invocation of 44.53 crore pledged shares due to default in payment of debt by Dish TV and some other companies.
It is to be noted that as of March 31, 2019, Dish TV’s debt stood at Rs 2,758 crore.
Other share holders
- Following the transaction, Dish TV promoters led by Jawahar Goel will have 30.37% stake in the company but before as on March 31, 2020 they owned 54.56% stake in the company, out of which over 93% was pledged with the lenders.
- 17.0% by corporate bodies ( foreign and domestic),17.3% by others.
i.This is the 6th such transaction done by Yes Bank to pick majority stake in a non-banking entity after CG Power, Cox & Kings, Reliance Infrastructure, Reliance Power and Sical Logistics, due to invocation of pledge against shares of a company that had availed loans from the bank and later failed to repay the dues.
ii.Apart from Dish TV, Essel Business Excellence Services, Essel Corporate Resources, Living Entertainment Enterprises, Last Mile Online, Pan India Network Infravest, RPW Projects, Mumbai WTR and Pan India Infraprojects have also defaulted in repayment of loan instalments. These companies are part of the Essel Group led by Subhash Chandra.
About Yes Bank Limited:
Headquarters– Mumbai, Maharashtra
MD & CEO– Prashant Kumar
Tagline– Experience our Expertise.
About Dish TV India Ltd:
Headquarters– Noida, Uttar Pradesh
CEO– Anil Dua