IndianMascot
Core Member
Direct-to-home (DTH) television service provider Tata Sky has planned equity infusion of over Rs 5 billion every year over the medium term to meet its capital expenditure and for serving its debt.
The additional equity will be raised from investors other than the promoters and will result in dilution of Tata Sons' shareholding from the current 60 per cent but is expected to be gradual.
Tata Sons would remain the single largest shareholder in Tata Sky after the equity infusions over the next few years. Tata Sons holds 60 per cent stake in Tata Sky while News Corp. has an effective stake of 29.8 per cent.
CRISIL, which has rated its bank facilities and debentures, believes that management control will remain with Tata Sons and Tata Sky's association with the Tata brand will continue even after its stake gets diluted.
Tata Sky has Rs 17.01 billion of bank facilities and recently raised Rs 1.6 billion through a debenture issue.
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The additional equity will be raised from investors other than the promoters and will result in dilution of Tata Sons' shareholding from the current 60 per cent but is expected to be gradual.
Tata Sons would remain the single largest shareholder in Tata Sky after the equity infusions over the next few years. Tata Sons holds 60 per cent stake in Tata Sky while News Corp. has an effective stake of 29.8 per cent.
CRISIL, which has rated its bank facilities and debentures, believes that management control will remain with Tata Sons and Tata Sky's association with the Tata brand will continue even after its stake gets diluted.
Tata Sky has Rs 17.01 billion of bank facilities and recently raised Rs 1.6 billion through a debenture issue.
Wish to Read Further, Click ----> Here