Dish TV lenders invoke pledged shares, sell 51.1 mn shares in open market

DTH service provider Dish TV on Tuesday said lenders have invoked 5.11 crore pledged promoters’ shares, following which the shareholding of the promoter group firm Direct Media Distribution Ventures Pvt Ltd has come down by 2.78 per cent.

In a regulatory filing Dish TV India said “5,11,97,105 shares have been invoked by the trustee(s) on behalf of lenders to whom shares of Dish have been pledged”.

These shares were sold in four tranches between December 30 2020- May 12, 2021 in the open market.

As per the regulatory filing, 92.81 lakh shares were sold on December 30, 2020, 92.64 lakh shares on January 7, 2021, 76.60 lakh shares on January 8, 2021, and 2.49 crore shares were sold on May 12, 2021.

Post the transaction, Direct Media Distribution Ventures Pvt Ltd’s stake in Dish TV stood at 2.09 per cent, as against 4.87 per cent earlier, the filing added.