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Apollo India PE Sells 4.4% Stake in Dish TV for Rs 486 Cr

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New Delhi: Apollo India Private Equity on Friday sold a 4.4 per cent stake in direct-to-home service provider Dish TV for over Rs 486 crore.

According to bulk deal data available on the BSE, Apollo India Pvt Equity II (Mauritius) Ltd has sold 46,911,765 shares, representing a 4.4 per cent stake, in Dish TV.

The shares were sold on an average price of Rs 103.72, valuing the transaction at Rs 486.57 crore.

Meanwhile, foreign fund house Citigroup Global Markets has bought 2.59 crore shares in Dish TV at Rs 103.65 apiece for Rs 269.47 crore.

In April this year, Apollo India Private Equity had sold 3.20 crore shares at Rs 82.04 apiece and Citigroup Global Markets had bought part of it (64.05 lakh shares) at Rs 81.75.

Dish TV came into the black for the first time in 11 years of its existence and reported a standalone net profit of Rs 35.01 crore for the fiscal fourth quarter that ended on March 31, 2015.

During fiscal year 2014-15, Dish TV reported a consolidated net profit of Rs 3.14 crore as against a net loss of Rs 157.61 crore in the corresponding period a year ago.

Shares in Dish TV, on Friday, ended 3.65 per cent lower at Rs 105.60 apiece on the BSE.

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