Dish Media Network Limited Seeks Approval From SEBON for Additional IPO Shares Worth NPR 1.35 Arba

Dish Media Network Limited (DMNL) has submitted a revised proposal to the Securities Exchange Board of Nepal (SEBON) for the issuance of additional IPO shares. The application was submitted to the board on Ashad 12, 2080.

Earlier, the company had initially submitted the proposal to SEBON for the issue of 2,385,929 unit IPO shares, but now 11,199,026 additional shares have been proposed to make a total of 13,584,955 unit IPO shares at a par value of Rs. 100 equivalent to Rs. 1.35 Arba.

Prabhu Capital Limited has been appointed as the issue manager.

According to the Managing Director of the company, Sudip Acharya, the company has expanded its internet services, which necessitated raising additional funds.

The company provides television services through Direct-to-Home (DTH) across Nepal. It was previously known as Satellite Channel Nepal and DIM Media Network before merging with Dish Media Network in July 2017. The company offers its services through 75 dealers, 45 hundred sub-dealers, and 14 service centers throughout the country. The company's 33% share is owned by Sandmartin International Holdings Limited.