The Government has allowed Dish TV India to increase foreign equity to the extent of Rs Rs. 980 crore.
Dish TV, the major DTH operator, had earlier sought approval to raise funds to produce telecommunication equipment and provide management and marketing of ‘agrani’ services in the area of Mobile Satellite Communications.
The decision taken by the finance ministry was based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 15 November 2011.
Soon after this news reached the share market, Dish TV India rose 3.37% at Rs. 64.50 on BSE.
Earlier, the Foreign Investment Promotion Board (FIPB) had approved the FDI proposals of Walt Disney, which allowed them to start the activity of broadcasting and down linking in India, and Dish TV for starting up its new venture in the field of of Mobile Satellite Communications ‘agrani’ services.