Dish TV India Ltd Share Price

History of Dish TV India Ltd

Dish TV India Limited was initially incorporated as private Limited Company on August 10, 1988 with the name 'Navpad Texturisers Private Limited' with the Registrar of Companies, Mumbai. The Company converted the status into a Public Limited Company in December 1995 and the name was changed to ASC Enterprises Limited and further was changed to Dish TV India Limited in 2007. Dish TV is India's biggest and amongst the world's largest (single country) direct-to-home (DTH) Company with a subscriber base of more than 29 million. The Company is part of the Essel Group and is engaged in the business of providing Direct to Home (DTH) television and Teleport services. Dish TV has on its platform more than 655 channels & services including 40 audio channels and 70 HD channels & services. Dish TV ... leverages multiple satellite platforms including NSS-6, Asiasat-5, SES-8, GSAT-15 and ST-2 and has a bandwidth capacity of 1422 MHz, the largest held by any DTH player in the country. The Company has a vast distribution network of over 4,000 distributors & around 400,000 dealers that span across 9,450 towns in the country. Dish TV is connected with its pan-India customer base through call-centres that are spread across 22 cities and are equipped to handle customer queries 24X7 in 12 different languages. In April 2006, the company's Hollywood blockbusters launched the On Movie On Demand. During June of the same year, News Active was launched and the One Alliance bouquet had joined in. In July, the Gaming channel Playjam was commenced. End of the year 2006, Dish Care Centres set-up Dish TV has 93 DCC/ Service franchisees across 51 cities. In 2006-07, the company launched a host of new age features like Near Video on Demand (nVOD), Sports Active, Mosaic for all genres & games for children. Dish TV India got listed on the National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange (BSE) on 18 April 2007 post the de-merger of the Direct Consumer Business of Zee Entertainment Enterprises Limited (earlier called Zee Telefilms Limited). During April of the 2007, dishtv crossed the 2 million subscribers marks and in the same period the Service infrastructure expands to 950-customer service executive at 9 different locations. Dish TV recognised as one of the top 25 start up brands in the country, by Planman Media in May of the year 2007. The Board of Dish TV India Limited at its meeting held on 5 December 2007 approved issue of securities on a preferential allotment basis to Indivision India Partners (Indivision), a Mauritius based Private Equity Fund subject to necessary approvals. Indivision would subscribe to 1.25 crore equity shares of Dish TV at a price of Rs 100 per equity share. Simultaneously Indivision would subscribe to 96.15 lakh warrants, convertible into 96.15 lakh equity shares at a price of Rs 130 per equity share, within a period of 18 months from the date of issue of warrants. Through this preferential allotment of equity shares and warrants, Dish TV would raise Rs 250 crore. On 3 April 2008, Dish TV announced that it has crossed the 3 million subscriber mark as on 31 March 2008 in terms of gross registered subscribers. This gives it a market share in excess of 60% of the pay DTH Industry. The Board of Directors of Dish TV India Limited at its meeting held on 24 April 2008 approved raising a sum of Rs 1200 crore through Right Issue. On 20 November 2008, Dish TV announced a significant milestone of crossing 4.5 Million Customer mark thus consolidating its leadership position as the largest and most innovative DTH Company in India. On 26 February 2009, Dish TV announced that it is passing on the full benefit of service tax reduction by the govt. to its subscribers with immediate effect. The service tax has been reduced from 12.36% to 10.36% and the subscribers will now be charged as per the new rate of service tax. The reduction of service tax is applicable on monthly packages and a la carte packs. On 15 September 2009, Dish TV announced a strategic tie up with Indiatimes.com, the internet venture of the Times Group, to offer the customers a host of Mobile Value added services on TV. Viewers can now preview the mobile services on TV and download their favorite mobile content onto their mobile handsets. The content spans across ringtones, wallpapers, text alerts and contests. On 14 January 2010, Dish TV launched a revolutionary service in the area of Live TV on the move. The service called Personal Live TV' on Move bought 70 satellite TV channels at each seat of the vehicle. On 19 March 2010, PVR Ltd., the leading entertainment company in India, and Dish TV announced a tie-up to promote 20-20 matches that will be telecast live on PVR screens. On 6 April 2010, Dish TV announced that it has crossed the 7 million subscriber mark. On 27 May 2010, Dish TV announced the launch of High Definition (HD) Service - Dish Tru HD on its platform. On 27 August 2010, Dish TV announced that it has crossed the momentous 8 million subscriber mark. On 16 November 2010, Dish TV announced that it has crossed 9 million subscribers mark to become Asia's largest direct-to-home (DTH) company. On 30 November 2010, Dish TV announced achieving a record 5 lakh new subscribers on its platform during November 2010. With this significant achievement, Dish TV has become India's first DTH service to add 5 lakh new subscribers in a span of 30 days. Dish TV also crossed 9 million subscribers milestone in November 2010. On 28 December 2010, Dish TV India Limited announced signing up of a long term contract for additional transponders on Asiasat with Antriksh'. With this, the total transmission bandwidth stands increased from 432 MHz to 648MHz. The increased transponder capacity will enable Dish TV to increase its standard definition channel capacity to over 320 and High Definition capacity to over 30 which will be substantially higher than any competing DTH operator in both HD as well as SD transmission. On 24 February 2011, Dish TV announced that it has crossed the 10 million subscriber mark to become Asia's first DTH company. On 23 March 2011, Dish TV announced an alliance with J&K Bank enabling it to offer recharge preference to its subscribers in the state. The recharge will be available at all Khidmat Centres', the Common Service Centres in J&K under the national e-governance plan. J&K Bank is the service centre agency responsible for setting up such units. On 10 October 2012, Dish TV announced a basic channel tier comprising of 70 channels free of cost for life to viewers in the 4 metros which fall under the first phase of digitization. On 7 November 2013, Dish TV announced that its newly launched DishOnline application crossed one lakh downloads in less than 30 days of its launch. This application is a first-of-its-kind online video streaming service that allows customer to watch TV across devices like smartphones, tablets, laptops, etc. On 20 November 2014, Dish TV announced that it has signed up strategic alliance agreement with Jet Privilege Private Limited (JPPL) as a 'Lifestyle Partner' for the JetPrivilege Loyalty and Rewards Programme. Under this alliance any JPPL member can get rewarded with JPMiles in case he/she buys a new connection or recharge. All JetPrivilege members will get rewarded with JPMiles whenever they subscribe to a new Dish TV connection. On 8 December 2014, Dish TV announced that it has collaborated with Concentrix Corporation, a global leader in high-value business services to further enhance its business services for premium customers. This collaboration will bring together Dish TV's innovative offerings and revolutionary features with the world class customer engagement expertise of Concentrix. The choice to partner with Concentrix Corporation comes as a result of explosive growth in the Dish TV client base, and recognition of the high volume of customers who desire HD channels and require a higher level of service. On 1 July 2015, Dish TV and SITI Cable, the two leading companies of Essel Group, announced the formation of a common entity named 'Comnet' which will help synergize the strengths of both the organizations in dealing with broadcasters. The primary reason for forming this venture is to ensure that consumers have an access to quality content at affordable prices. This move would also help that the content cost is in sync with consumer ARPUs and market realities. The mandatory digitization is underway and this initiative will ensure a larger participation in digitization for both the entities. On 22 December 2015, Dish TV announced the roll out of an aggressive plan in an attempt to capture a chunk of analogue cable users in Phase III areas of Digital Addressable System (DAS).The company announced the launch of its new campaign Dish99, an exciting new package which offers power to create their own pack to customers that are moving to the digital platform. On 3 March 2016, Dish TV announced the availability of its entire range of products and services on India's largest online store, Amazon.in. This will give its subscribers the ease of buying the products and services online. On 7 March 2016, Dish TV announced its partnership with Visiware International, the world leader in interactive games for television. With Playin'TV, Visiware's flagship international gaming channel broadcasted on over 40 networks worldwide, DishTV's customers will have access to a rich international gaming experience with a selection of games for the whole family to enjoy; boys and girls between 8 to 12 years, teens between 13 to 20 years and for those over 20. On 15 March 2016, Dish TV announced that it has selected Wyplay, creator of software solutions for Pay-TV operators, to provide its Frog Turnkey Middleware and associated class leading value added services on their STBs. With Frog Turnkey solution, Dish TV's customers will have access to a complete end-to-end offering from back-end broadcast services to an advanced client managing Live TV, Record, Push VOD and Interactive Applications. On 21 April 2016, Dish TV announced a tie up with Shemaroo Entertainment, one of India's leading entertainment content houses, to launch a new premium service called 'Miniplex' on its direct-to-home (DTH) platform. This premium movie service will premiere latest blockbuster movies every Friday. Additionally, it's is an ad free subscription based service which will also showcase other recent movies. On 11 November 2016, the Board of Directors of Dish TV and Videocon d2h Limited (Vd2h) approved a scheme of arrangement for the amalgamation of Vd2h into Dish TV (the Scheme) and the execution of definitive agreements in relation to such amalgamation (the Proposed Transaction). Following the closing of the Proposed Transaction, the merged entity will be renamed as Dish TV Videocon Limited. On 27 March 2017, Dish TV India Limited announced that it has extended its collection by adding 23 new channels to its portfolio. This includes 9 High definition channels and 14 Standard definition channels, making the total count of channels and services on its platform to more than 615. On 12 April 2017, DishTV India Limited announced that it becomes the first DTH company which has fully migrated to GST regime in all the states of India (except Himachal Pradesh who have not opened the migration). On 26 April 2017, Dish TV India Limited announced that it has become the only Media & Entertainment organization in the world which has been appraised at Level 4 (CMMI-DEV and CMMI-SVC V1.3) of the CMMI institute's Capability Maturity Model Integration (CMMI). This makes Dish TV the newest member of a very elite club; the SEI website lists only 15 companies, in India, in last 3 years together who have been certified for Level 4 or 5. On 4 May 2017, Dish TV India Limited announced that it has strengthened its partnership with Visiware International, the leader in games for interactive television to launch Cartoon Network games in partnership with Cartoon Network India, the most loved kids' channel in India. On 11 September 2017, Dish TV India Limited announced that it has joined hands with e-commerce major, Flipkart to bring to its customers a hassle-free Dish TV connection anytime, anywhere, just a click away. With this association, DishTV becomes the first DTH service provider to be listed on Flipkart. On 22 March 2018, the Company got merged with Videocon D2H Limited and vested with the Company by Scheme of Arrangement. In terms of the said Amalgamation, the Board if the Company issued 857,785,642 fully paid up equity Shares of the Company of Re 1/- (one each), as a consideration to the eligible equity shareholders of Videocon D2H Limited. Further, out of the issue of 857,785,642 fully paid equity shares, the Board has allotted 775,256,159 fully paid equity Shares of Re 1/- on March 26, 2018 and kept the allotment of 82,529,483 equity shares in abeyance, owing to certain counter claim received by the Company. On 25 April 2018, Dish TV India Limited announced the launch of a new Tamil Movies Service - Thirai Ulagam on its Videocon d2h platform. With this addition of Thirai Ulagam, Dish TV India Limited launched its first-ever Tamil value-added service. The Board of the Company had approved the Scheme of Arrangement amongst Videocon D2H Limited and Dish TV India Limited and their respective Shareholders and Creditors. Videocon D2H Limited (the transferor Company in terms of Scheme) had American Depositary Shares (ADSs), which were listed on Nasdaq Global Market (NASDAQ). In terms of the scheme, the said ADSs were voluntarily delisted from the NASDAQ and deregistered with the U.S. Securities and Exchange Commission (SEC). Accordingly, consequent to effectiveness of the scheme the said ADS were delisted from NASDAQ. In terms of the Scheme, the ADS holders of Videocon D2H Limited had an option to either elect and/or receive the shares of Dish TV India Limited or the GDR to be issued by Dish TV India Limited. Accordingly, the ADS holders of Videocon D2H Limited were issued Global Depositary Receipts (the GDRs) of Company. The effective date of issuance of GDRs was April 12, 2018, and the same were listed on the Professional Securities Market (PSM) of the London Stock Exchange on April 13, 2018. Post receipt of all necessary approval(s) and in compliance of order Passed by Hon'ble National Company Law Tribunal (NCLT) dated July 27, 2017 for Amalgamation of Videocon D2H Limited into and with the Company, the Board at its meeting held on March 26, 2018, approved the issuance of 27,70,95,615 Global Depositary Receipts (the GDRs) to the holders of ADSs of Videocon D2H Limited (each GDR representing one equity share of the Company, exchanged at a rate of approximately 8.07331699 new GDRs for every one Videocon D2H Limited ADS. The underlying equity shares against each of the GDR's were issued in the name of the Depository viz. Deutsche Bank Trust Company Americas. During the year under review, out of the total 27,70,95,615 GDRs issued by the Company upon completion of merger, the Investors have cancelled 8,79,09,843 GDRs in exchange for underlying equity shares of the Company, accordingly as on March 31, 2019 the outstanding GDRs of the Company are 18,91,85,772. In 2018, the Company launched new NXT HD+ set-top boxes with best-in-class technology, contemporary Ul and enhanced customer experience. The Company purchased additional 300 equity shares of C&S Medianet, by virtue of which, the percentage stake of the Company in C&S Medianet increased from 48% to 51% upon the acquisition and C&S Medianet became the subsidiary of Company with effect from November 1, 2018. During the year 2020, the Company launched Orbit', a new user interface (UI) for recently launched SMRT & Magic range of connected products for both Dish TV & d2h. It also launched Rangmanch Active', a theatre service dedicated on showcasing plays across genres - from musicals and classics to drama, mystery, comedy and satire, featuring some of the most acclaimed actors from theatre and small screen. Ayushmaan Active' was also launched during the year to meet the content needs of senior citizen viewers on both of its brands, Dish TV and d2h. In 2022, the Company launched Zing Super FTA box to access FTA channels giving them an option to subscribe to pay channels. Further, it launched QR Scan Feature' to recharge their Dish TV account or paying utility bills. In 2023, Dish TV launched new services to keep the subscribers' entertained. In collaboration with Hungama Digital Media Entertainment Pvt. Ltd., it launched 'Bollywood Hungama Active.' a single business platform for all Bollywood news, fun facts, and updates, with interviews and unknown facts about superstars of Bollywood. During FY 2024-25, Company launched FLIQS on Watcho-a unique initiative that empowers content creators by granting them intellectual property rights. The Company introduced modern smart devices such as the Dish SMRT Hub and DTH Stream, powered by Android TV 9.0. Dish TV diversified into e-commerce through the establishment of Dish Bharat Ventures Private Limited (the Company's wholly owned subsidiary) and the launch of ShopZop, marking its entry into both Business to Business (B2B) and Business to Customer (B2C) digital marketplaces. The Company broadened its reach, particularly in rural and semi-urban markets with comprehensive content offerings, smart connected devices such as Dish SMRT Hub and D2H Stream, regional content strategies and hybrid products like the Zing Super device.