ITV

Tag: London Stock Exchange

  • Dish TV-Videocon d2h lists GDRs on London stock exchange

    Dish TV-Videocon d2h lists GDRs on London stock exchange

    MUMBAI: When Dish TV-Videocon d2h Ltd announced their merger, a presentation to investors had stated that the merged entity would issue global depository receipts (GDRs) on the Luxembourg exchange. However, probably what it meant was the London stock exchange. Which is what happened last week.

    The world’s second largest pay TV company in terms of subscribers announced on 13 April that 277,095,615 GDRs (each representing a fully paid equity share) have been listed and permitted to trade on the professional securities Market of the London Stock Exchange. These have an approximate value of $315 million while DishTV Videocon d2h has a market cap of $2.2 billion, based on the ordinary shares listed in India.

    This followed the ingestion of Videocon d2h into Dish TV India on 22 March 2018. The former had American depository shares listed on Nasdaq; these stand delisted and have been exchanged for Dish TV’s GDRs.

    Said Dish TV India chairman & managing director Jawahar Goel: “The amalgamation of Videocon d2h and Dish TV has put the new entity on the road to exceptional future growth and profitability. Having London Stock Exchange as a partner in that journey will make it much more rewarding. We now look forward to leading the DTH industry in India to the next level.”

    Dish TV India group chief executive officer Anil Dua added: “We are extremely pleased to start trading on London Stock Exchange today and increase our visibility to international investors, following the successful completion of the merger between Videocon d2h and Dish TV. The merger and the eventual listing has been long awaited news for many. I wish to put on record here, our commitment to make the new entity reach unprecedented levels of growth and success in the coming years.”

  • K Sera Sera looks to launch music channel; eyes buyout of Jhankar

    K Sera Sera looks to launch music channel; eyes buyout of Jhankar

    MUMBAI: K Sera Sera is putting its expansion plans in place. One among them: the launch of a music channel, for which it is in advanced negotiations with Jhankar TV to acquire a controlling stake.

    The company is also working out output deals which will allow it to have a strong movie production pipeline. On the agenda is a presence in international distribution and an entry into the home video segment. “Lining up movie production contracts is a high priority area. Discussions are on with several parties in this area,” says a source close to the company.

    K Sera Sera is in talks with Eros International Plc for a deal that in value terms could be around Rs 2 billion over a longer period, the source adds. Eros, which globally distributes Bollywood content, recently floated an initial public offering and is listed in the London Stock Exchange (LSE).

    “While the deal with Sahara was for just satellite TV rights, the talks with Eros are much broader in scope. Eros has entered into music rights and has a wide international movie distribution network. K Sera Sera has produced many movies. If the deal sails through, it will help the company scale up its movie pipeline,” says the source.

    K Sera Sera senior executives were not available for comment on both the music channel and the movie deal with Eros.

    On the music channel front, K Sera Sera plans to run it through a subsidiary company. By being producers of Bollywood movies, the channel will have a synergistic relationship.

    “We are in advanced talks with K Sera Sera for diluting majority stake. Since they have movie software, Jhankar TV stands to gain. But no conclusive agreement has been reached yet,” says Hamara Samay TV News Network Pvt Ltd president Zaheer Ahmad. Hamara Samay is the company that owns and operates Jhankar TV.

    K Sera Sera is, however, weighing other options including the possibility of launching the music channel on its own. “The company, though, realises the distribution problems of a new channel,” says the source.