Sameer Deshpande

Congratulations on the good results, and the consistency over the last 2, 3 years in growth has been quite good. So, I think with the catching base effect, the growth rates are seeing some tapering off maybe quarterly. But now as you mentioned, I wanted to know about the effective tax rate. Our tax rate is, I think, in early 10%, 12%. So, what is likely to be the tax rate going forward?

Except Dubai, we are not expecting any change. So maybe it is 10%, 12%, it may be 13%? It will not be substantially higher?

And after our China operations, which we started, I think, 6 months back after receiving it from the Ministry of External Affairs, how is the business on that front?

Congratulations on a good set of numbers. And despite a cautious commentary in Q4, we really did well. And the good thing is , you mentioned the operating losses of ZEE5 which have been curtailed significantly. And going forward, they are also sustainable. So, that is definitely a good thing going forward in improving our operating margins as per our targets.

Sir, but I think it is about now about six to seven months. It was in February we had. So, it is almost nearing completion now?

And regarding the fundraise, as you mentione d that the things are yet to be, terms, etc. is not yet disclosed. And it will be done in tranches as and when you feel there are opportunities. So, we are not going to raise the money upfront, maybe Rs. 1,000 crores odd, etc., because we already have some Rs. 1,300 crores of cash.