After his company’s successful listing in the US, Videocon Group chairman Venugopal Dhoot has set an ambitious target for his direct-to-home (DTH) business Videocon d2h. The DTH company is looking to invest its cash reserves and internal accruals generated over the next five years to the tune of $1 billion (Rs 6,500 crore), Dhoot told Business Standard. He also said that the company’s $325-million offering was well received by blue-chip funds in the US resulting in foreign direct investment into India. Noting that the market capitalisation of Videocon d2h was Rs 8,000 crore (Rs 80 billion), the Videocon Group boss said that the response from investors was encouraging with share price of the DTH firm in NASDAQ going up by 25 per cent from the initial public offering (IPO) price.
Read more at: http://www.televisionpost.com/dth/videocon-d2hs-investment-plans/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/dth/videocon-d2hs-investment-plans/ | TelevisionPost.com
