Dish TV shoots up 7% after RBI approves divestment in Sri Lankan Subsidiary

6 Apr 2022 , 12:50 PM

Dish TV India Limited updated the exchanges that through the Authorised Dealer (AD) Bank’s communication dated April 5, 2022, the Company has been informed that the Reserve Bank of India vide its communication dated April 4, 2022, had approved the said divestment, of Company’s entire equity investment in Dish TV Lanka (Private) Limited.

The company stock was in demand on Wednesday despite bearish markets. At around 12.52 pm, Dish TV India Ltd was trading at Rs17.55 per piece up by Rs1.15 or 7.01% from its previous closing of Rs16.40 per piece on the BSE.

The scrip opened at Rs16.15 and has touched a high and low of Rs17.75 and Rs16.15 respectively.

The Company shall initiate the process to fulfill the said conditions and shall intimate the Stock Exchange(s), upon completion of divestment.

The Board of Directors of the Company at their meeting held on January 29, 2021, had approved the divestment in Dish TV Lanka, a Subsidiary of the Company, subject to fulfillment of conditions of Share Sale agreement and requisite regulatory approvals.