“We are waiting for Sebi comments. Once we get the approval, we will go ahead with the rights issue,” Dish TV CMD Jawahar Goyal told PTI.

The Zee group company had applied to the market regulator in May this year for its rights issue.

Goyal said the company would utilise proceeds of the rights issue to cushion itself from losses incurred while providing connections to subscribers, including subsidising set top boxes among others.

“Every connection cost us up to Rs 2,500-3,000, the right issue will help us to cover these losses…and to acquire more subscribers,” he said.

Commenting on competition Goyal said: “We are strengthening our marketing initiatives to attract the customers.”

The company’s move to rope in Shahrukh Khan as brand ambassador has paid off, he said, adding the company’s dealership as well as subscriber base has increased.

He said Dish TV expects over three-fold increase in subscriber base to eight million by 2011 on the back of new marketing plans and offerings.

Besides, the DTH operator is in talks with a number of companies to roll out its services in various platform, including SUVs etc. It is understood that the company has been in talks with auto makers such as Ford, Tata Motors and General Motors.

Source: The Hindu