Rare Enterprises picked up 1.30 crore shares of direct-to-home operator Dish TV India for nearly Rs 93 crore, through an open market transaction.
Dish TV plans to invest around Rs 1,700 crore as capex in the current fiscal and strengthen both the brands across India, top officials said.
Star India is at loggerheads with Airtel Digital TV and Dish TV over subscription fee hike, with the broadcaster threatening to disconnect its channels.
Indian market slipped to close in the red for the week ending Friday. A look at some events which will guide the markets for the week:
Direct-to-home operator DishTV reported a consolidated net loss of Rs 18.55 crore for the third quarter ended December 2017.
Dish TV India jumped 3.93 per cent, Den Networks 3.61 per cent and Sun TV Networks 3.24 per cent on the BSE.
The stock plummeted 11.21 per cent to end at Rs 81.55 on BSE.
It has already received approval from Sebi, NSE and the BSE for the merger.
Minority investors divided over changes at ICICI bank
Fund managers seek clarity on governance & leadership for investment decisions
Kochhar's fully paid leave raises questions
Proxy advisory firm raises questions on remuneration
Will issue 5.1% equity shares worth Rs 746 Cr to investors, priced at Rs 1,661/sh
IIFL's wealth management business valued at Rs 14,600 Cr
Investors include Amansa holdings, General Atlantic Singapore & HDFC Standard Life
Gets final USFDA approval for Generic Sustiva
U.S. Sales stood at approximately $105 Mn in a 12 month period, ending in April 2018
Nerolac to enter share purchase agreement with RAK paints in Bangladesh
Will acquire 55% paid up equity share capital in RAK paints for Rs 45.8 Cr
Acquisition to be complete by 31st July 2018
UPL consortium said to be in talks to buy platform's agri pesticide unit Arysta Lifescience
UPL to team up with Abu Dhabi investment authority for Arysta Lifescience
UPL group's talks for Arysta Lifescience unit said to be in advanced stages