Apollo Global Management LLC, an American private equity firm has sold its 3 per cent (32 million shares) stake of Dish TV at an average price of Rs 82.04 per share and carried away total Rs 262.53 crore. The sold stake was acquired by a portfolio investment unit of Citigroup and a mutual fund under Birla Sun Life.
In 2009, Apollo has purchased 11 percent stake at the rate of Rs. 39.8 per share in Dish TV for $100 million. On 10 April, the company sold 3 per cent stake and still have 8 per cent stake worth Rs 721 crore still with it.
As per Dish TV, it has a net subscriber base of 12.5 million subscribers till 31 December 2014. The company is reducing losses every quater. For the third quarter of FY 2014-15, net loss was Rs 2.9 crore as compared to Rs 15.1 crore in the preceding quarter.