Videocon d2h to double its subscriber base in 4 years

Videocon d2h to double its subscriber base in 4 years

Videocon d2h to double its subscriber base in 4 years

Videocon d2h, the satellite television arm of the Videocon Group, plans to double its subscriber base over the next four years.“Currently, we have a customer base of 13 million and we plan to double it in the next four years,” Videocon d2h Managing Director Saurabh Dhoot told Deccan Herald.

Videocon d2h, which became the first Indian media company to list overseas and also bring out the largest Indian initial public offering (IPO) in the United States since 2007, will become the most valued Indian company on NASDAQ with an expected market capitalisation of $1.15 billion, according to the company.

“We have raised $325 million through a primary capital raising issue and post the issue, the ADR holders will have close to 35 per cent stake in the company while the promoters will have 65 per cent,” Dhoot said.

The proceeds from the listing will be used for reducing the debt. The net debt before the listing was around $480 million and it will go down significantly post the listing to less than twotimes EBIDTA, Dhoot added.

Videocon d2h, which had earlier filed a draft prospectus with the Securities and Exchange Board of India (Sebi) for an IPO in India, is still looking at a listing in India.“We do plan to list in India as well but may have to file a new draft prospectus. However, I cannot give a timeline for listing in India,” Dhoot said.

The promoter stake dilution for the listing in India will be based on the minimum public holding requirements as per Sebi rules and regulations, Dhoot added.

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