Dishhome to acquire Prabhu TV and Prabhu Net

Kathmandu, April 18

Television service provider Dishhome is set to acquire another television service provider, Prabhu TV. Discussions for merger between the two companies started when Prabhu TV could not pick up speed. According to a source, the two sides have discussed the issue many times.

While Prabhu Group is investing in two companies of the same nature, the process of merging the two is underway. According to an official of Dishhome, the talks between Dishhome and Prabhu TV have moved ahead in terms of acquisition rather than merger, but for the final decision it may take some time.

Dishhome is a television service provider based on satellite technology while Prabhu TV is a television service based on OTT technology. Regarding Prabhu Group’s investment in Dishhome, Prabhu TV is about to merge with Dishhome. Dishhome also has Sudip Acharya Group, IME Group, Prabhu Group and Chinese investment.

Earlier, Devi Bhattachan of Prabhu Group had started Prabhu TV by selling its shares in Dishhome. She believed that different types of OTT technology would be cheaper and more effective. In today’s digital age, OTT technology television services may not be as effective as seen on Prabhu TV. Since the Prabhu group did not get the expected success from Prabhu TV, it was seen that it would be appropriate to merge it in Dishhome.

Dishhome has more than 15 lakh subscribers across the country, while Prabhu TV has only thousand subscribers in some cities. Prabhu Group had also launched Prabhu Net and IPTV services along with Bhu TV. After not making the expected progress in all of them, Prabhu TV and Prabhu Net and IPTV are being merged with Dishhome. Dishhome has been expanding its services including Fibernet in recent days.

Dishhome Media Network is preparing to launch an IPO. According to Dishhome sources, the IPO may take place after Prabhu TV and Prabhu Internet are acquired. The company has applied to the Securities Board of Nepal for the issuance of 2,385,929 IPOs worth Rs. 100 per unit.

A Dishhome source said, “It is difficult to issue an IPO in this fiscal year. The IPO confirmation will be issued in the next fiscal year after the receipt of this year’s audit report.” Probably before that, the work of acquisition with Prabhu TV can be done. If both services of the same nature joined, it will be more convenient for Dishhome to expand the market.