Dish TV clarifies report of whether Airtel is picking up majority stake in it or not

Dish TV India Ltd has clarified that "there is no information available" on reports about telecom major Bharti Airtel picking up a majority stake in the company.

"Dish TV India Limited, would like to state that there is no information available with the Company which is required to be reported under extant SEBI Regulation (Regulation 30), which may have bearing on the stock price of the Company. Further, we would also state that the Company is not aware of the transaction which has been reported in the above-mentioned news report," the company said in a regulatory filing in context to the earlier report.

A financial daily had reported citing sources that Airtel is looking to buy 5.93 per cent stake from Dish TV's promoter group and 25.63 per cent stake owned by Yes Bank Ltd. The lender is the largest shareholder, according to Refinitiv data.

According to the report, the telco had offered Rs 20 per share for the 5.93 per cent of Dish TV owned by the promoter group. The amount represents a 14 per cent premium to Dish TV's closing price on Wednesday.

The report further went on to say that once Airtel’s offer is accepted by the promoters and Yes Bank, the carrier will offer to buy the remaining shares from other investors until it owns 51 per cent stake.

After the clarification, shares in Dish TV rose 4.94 per cent at Rs 18.05 during late trade on BSE.