ITV

Tag: capital

  • Dish TV seeks shareholder nod to borrow up to Rs 3000 crore

    Dish TV seeks shareholder nod to borrow up to Rs 3000 crore

    MUMBAI: Dish TV India has called on its shareholders to participate in a postal ballot to decide a few key decisions which will help it rev up its business going forward. The ballot that will take place between 8 August and 6 September firstly seeks permission from its shareholders to authorise the board of directors (BOD) to borrow up to Rs 3000 crore over and above the company’s paid up share capital and free reserves.

     

    Secondly, it seeks to authorise the BOD to create a charge/mortgage on its assets that will aid the borrowings. However, it says it will take care to keep the loan amounts well within the maximum borrowing limits, including all taxes. In an earlier meeting, the BOD had approved of the plan and it is now seeking Dish TV shareholders’ nod for the same.

     

    Additionally, it has sought their go-ahead to allow it to invite companies and individuals to subscribe to its non-convertible debentures (NCDs) through the private placement route. If the resolution is passed – which is quite likely –  it will allow Dish TV India  to make offers within one year seeking subscription for secured and/or unsecured, redeemable NCDs  in one or more series/tranches/currencies to persons such as FIIs, mutual funds, banks, body corporate, persons etc. These can be either Indian or foreign and the condition is that no single tranche will be more than Rs 500 crore and will be well within the boundary of the borrowing limit.

     

    Dish TV has informed shareholders that the BOD could take recourse to various instruments such as equity, project loans, corporate loans, bank and financial institutional loans or debentures to raise funds going forward. A right mix of all of these would help it get funding at an optimum cost.  Subject to member approval, the board says it is evaluating  the process of raising money through non convertible debentures on private placement basis.

     

    The last resolution – if pased – will authorise the BOD to make investments/give any loan or guarantee /provide security to any of Dish TV India’s subsidiary/associate companies to the tune of Rs 500 crore. This could be done from time to time and in tranches.  The investments, guarantees and securities are aimed to bring about optimum utilisation of the company’s  funds and achieve long term strategic and business objectives, the Dish TV postal ballot notice to the Bombay stock exchange says. 

     

    The aggregate of the investments that it will make along with the securities that it may provide to a loan taken by a subsidiary/associate company, guarantees and the proposed investments can be more than 60 per cent of the paid up share capital and free reserves and securities premium account or 100 per cent of its free reserves and securities premium account, whichever may be higher.

     

    “Your company has embarked upon a growth path and is constantly reviewing opportunities for expansion of its business operations,” says a note to Dish TV shareholders.

  • Capital rollout for BIG FM; Bachchan Jr. brand ambassador

    Capital rollout for BIG FM; Bachchan Jr. brand ambassador

    NEW DELHI: BIG 92.7 FM, an Adlabs Films venture, began its nation-wide station roll out from Delhi today with future plans of getting into Internet radio also.

    The station has signed up Bollywood actor Abhishek Bachchan, son of Hindi film legend Amitabh Bachchan, as its brand ambassador.

    Over the next fortnight, BIG 92.7 FM will be heard across the six metros of Delhi, Mumbai, Bangalore, Kolkata, Chennai and Hyderabad, apart from FM radio virgin territories of Jammu, Srinagar and Aligarh.

    The tagline of the station being: BIG 92.7 FM. Suno. Sunao. Life Banao (listen to BIG FM, make others also listen to it and make your life).

    Unveiling the brand, BIG 92.7 FM COO Tarun Katial today said here, “At BIG 92.7 FM, we will be driven by the desire to give new and innovative radio programming to millions of Indians. We will not only present unique, city-specific content but also rope in personalities who will connect with the listeners and provide the glamour quotient”.

    Aimed at touching the lives of 200 million listeners – that is, every fifth Indian in the country; every third Indian in the cities and every eighth Indian in the villages — BIG 92.7 FM claimed it would redraw the broadcast map of the country.

    “Our detailed research on the city’s psychographics will ensure that the station sounds refreshing and different, with a major focus on utilities and entertainment”, Katial, a former programming head of Sony Entertainment TV, added.

    Based on extensive research and in-depth analysis, BIG 92.7 FM has made special effort to customize its programming to the preferences of each of the cities that it plans to enter.

    According to brand ambassador Abhishek Bachchan, “Radio has risen phoenix-like after being overshadowed by the visual medium. With the launch of BIG 92.7 FM, this romance with the radio is set to continue and intensify. My association with BIG 92.7 FM gives me a chance to connect directly with the Indian audiences.”

    To ensure high aspiration and connect with the listeners, BIG 92.7 FM has signed on celebrity radio jockeys such as Mona Singh aka Jassi and Gaurav Gera aka Nandu of the Jassi Jaisi Koi Nahi serial fame.

    Apart from these, ace comedian Sunil Pal of The Great Indian Laughter Challenge and Shweta Tiwari from Kasauti Zindagi Kay will host shows on BIG FM.

    On the day of the official launch of the station, BIG 92.7 FM hosted a city-wide awareness telethon to sensitize Delhi to the issue of safety as part of its initiative of “providing entertainment with a cause”.

    For this initiative, the station roped in several celebrities to come on air and discuss with Delhi-ites various safety concerns facing the Capital, including crimes against senior citizens, women and foreign tourists.

    Among the celebrities who joined this forum were singers Shuba Mudgal and Kailash Kher and actors Sushma Reddy, Smriti Irani, Isha Koppikar, Arjun Rampal, Neha Dhupia, Mandira Bedi and Varun Badola.

    ADLABS MAKES BIG INVESTMENT

    Adlabs Films, which is majority controlled by Reliance-Anil Dhirubhai Ambani Group (ADAG), is making big time investment in its FM radio venture.

    According to company sources, a total of Rs. 4 billion will be invested in the radio venture out of which approximately Rs. 2.4 billion will be spent on the rollout of 45 stations across the country, which includes programming costs too.

    The remaining investment is in the form of licence fee.

    Asked whether programming would consist of only music — mostly from films and Indipop like other FM radio stations— a senior executive of Reliance said that sports programming is also being explored, subject to clearance from the government.

    At present, the government hasn’t come out with a clear policy whether sports programming like running commentary of cricket matches on private radio stations would be categorized as news and current affairs or entertainment genre programming.

    Present FM radio policy guidelines don’t allow news and current affairs programming, except weather and stock market quotations, on private radio stations. Only All India Radio’s FM channels are allowed to broadcast news.