NEW YORK, APRIL 8: India's direct-to-home service provider Videocon d2h made its debut on Nasdaq, raising $325 million through issuance of American Depository Receipts.
The company rang the opening bell at the Nasdaq stock market here yesterday on the occasion of its listing.
"Our listing on the NASDAQ Stock Exchange is a major corporate milestone for the entire Indian media industry not just Videocon d2h and a testament to the tremendous progress we have made under the Digital India vision" of Prime Minister Narendra Modi, Videocon d2h Managing Director Saurabh Dhoot said.
Videocon d2h has become the first Indian private company since the year 2000 to list overseas, issuing ADR worth $325 million to the public.
It also became the first sizeable Indian listing on US exchanges and the first Indian media company to be listed at Nasdaq.
At market cap of about USD 1.15 billion, Videocon d2h has become the most valued Indian company at Nasdaq.
Videocon d2h has launched many firsts in the Indian DTH industry like the first to launch the 4K Ultra HD Channel, 1000 GB High Definition Digital Video Recorder, Radio Frequency Remote for DTH, Wireless DTH Headphones, 500 channels & services.