YES Bank has acquired 24.19 per cent stake in Dish TV, making it the second-largest shareholder in the direct-to-home (DTH) company.The bank’s move to pick up a stake in Dish TV comes following an invocation of pledged shares counting 445.3 million in the firm.The Dish TV shares each had a nominal value of one rupee.
Actually, Dish TV promoters hold near around 55% stake in co., out of which 93% was pledged.
Yes bank did this to derail credit risk.The shares have been acquired pursuant to invocation of pledge of the shares subsequent to default or breach of terms of credit facilities sanctioned by Yes Bank to Essel Business Excellence Services, Essel Corporate Resources, Living Entertainment Enterprises, Last Mile Online, Pan India Network Infravest, RPW Projects, Mumbai WTR and Pan India Infraprojects.
The company has a bandwidth capacity of 1,422 MHz with an ability to deliver more than 655 channels and services, including 40 audio channels and 70 HD channels and services.
It reported a consolidated total income of Rs 6,218.28 crore as on March 31, 2019.
Yes bank opted for safer and less risky side as you can see graph of dish TV, recovery chances are very less.Although, Essel group has one more arm named,Siti Network. Due to this pandemic every organization is trying to derail credit & liquidity risk .We can see in recent time Reliance Jio made itself debt free, Airtel promoters also sold their stake.
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