Dish TV lenders sold pledged shares in the open market

DTH service provider Dish TV today said that its lenders have sold 5.11 crore shares pledged by the promoters in the open market, following which the promoter group Media Distribution Ventures Pvt Ltd’s direct stake in the company declined by 2.78 per cent.

Dish TV told the stock market that the trustees had sold 5,11,97,105 shares on behalf of the lenders, which were pledged.
The company said that these shares were sold in the open market in four lots from 30 December 2020 to 12 May 2021.

Following the deal, Media Distribution Ventures Pvt Ltd’s direct stake in Dish TV fell from 4.87 per cent to 2.09 per cent.