DishHome to issue IPO by next year

Published On: December 25, 2018 08:46 AM NPT By: Republica  | @RepublicaNepal

‘Plan on the cards to provide internet services through satellite’

KATHMANDU, Dec 25: Dish Media Network Ltd is preparing for initial public offering (IPO) of its shares by next year. The direct-to-home (DTH) operator of DishHome is planning to issue 10 percent of its shares to the general public to tap into the public money as capital. 

“To float public shares, we have already become a public company. Owing to some technical reasons, we could not float shares to the public this year. However, our plan is to issue the shares to public by next year,” said Hem Raj Dhakal, the chairman of Dish Media, speaking at a press meet at its new office in Bhainsepati in the capital on Monday. 

“While we have not been able to provide any return to our promoters yet, the success we have achieved in taking DTH service and dish to far-flung areas has been a very big dividend for us,” said Dhakal. 

The company is also planning to provide internet services in the rural areas through satellite, according to Dhakal. 

“We carried out some studies about providing internet services through satellite. But, it looked a bit costlier. We are now looking ahead on other ways and modalities to provide internet services to each nook and corner of the country at a cheaper rate through the satellite,” he added. 

In its statement, the company has said that Dish Media Network constitutes nearly 25 percent of the Nepali market share. The company has already sold 1.5 million set-up boxes for television, according to the statement. 

The company has also said that it has paid nearly Rs 4.1 billion in revenue to the government under various tax headings in the last nine years of operation. 

“The company has played a leader’s role in the pay-TV segment, while it is also complying with the government’s digital policy. The company has become a top company in paying taxes to the government in the pay-TV industry,” read the statement.

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