Dish TV India Ltd’s stock rose 4.3% on 28 November 2011 to Rs. 65 on news reports that the company has got clearance from the Foreign Investment Promotion Board (FIPB) to increase overseas equity to around Rs. 980 crore.
According to media reports, the amount has only been approved, the company has not yet decided on how much to raise and when to raise. But the approval is to cover the expense on digitalisation and introducing new satellite services.
Dish TV intends to exit the current fiscal with average revenue per user (Arpu) of Rs. 160-165. The recent price hike is expected to help the company achieve its Arpu guidance for the year-end.