Videocon d2h lists on Nasdaq

New York: India’s direct-to-home (DTH)service supplier Videocon d2h made its debut on Nasdaq, elevating $325 million by means of issuance of American Depository Receipts (ADR). The corporate rang the opening bell on the Nasdaq inventory market right here on Tuesday on the event of its itemizing.

“Our itemizing on the Nasdaq Inventory Alternate is a significant company milestone for your complete Indian Media trade not simply Videocon d2h and a testomony to the large progress we have now made underneath the Digital India imaginative and prescient” of Prime Minister Narendra Modi, Videocon d2h managing director Saurabh Dhoot mentioned.

Videocon d2h has turn into the primary Indian non-public firm because the yr 2000 to listing abroad, issuing ADR value $325 million to the general public. It additionally turned the primary sizeable Indian itemizing on US exchanges and the primary Indian Media firm to be listed at Nasdaq. At market cap of about $1.15 billion, Videocon d2h has turn into essentially the most valued Indian firm at Nasdaq.

Videocon d2h has launched many firsts within the Indian DTH trade like the primary to launch the 4K Extremely HD Channel, 1000 GB Excessive Definition Digital Video Recorder, Radio Frequency Distant for DTH, Wi-fi DTH Headphones, 500 channels and companies. PTI

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