To use GDR proceeds for subscriber acquisition: Dish TV

In an exclusive interview with CNBC-TV18, Goel talks about the latest development in the company.

Below is a verbatim transcript of the exclusive interview with Jawahar Goel on CNBC-TV18. Also watch the accompanying video.

Q: Can you confirm the details of the global depository receipt (GDR) issue that you have concluded?
A: It is 11% spended capital of Dish TV and the price we had negotiated is Rs 39.80 as per SEBI rules and USD 100 million.

Q: Your enabling provision though was for USD 200 million and it was either GDR or FCCB, will you raise another USD 100 million via some other instrument?
A: For the time being, as per our business plan, we are okay about it and I cannot comment on the remaining.

Q: What is the primary use of the money that has been raised via the GDR?
A: This money will be used for funding the subscriber acquisition whereby we have to subsidize the new subscriber acquisitions.