The National Company Law Tribunal has approved merger of satellite TV service providers Dish TV and Videocon D2h, paving the way for creation of country's largest direct-to-home service provider.

"Dish TV India Limited is glad to announce that the Mumbai Bench of Hon'ble National Company Law Tribunal (NCLT), at a hearing held today has approved the scheme of arrangement amongst Videocon D2h Limited and Dish TV India Limited and their respective shareholders and creditors," Dish TV said in a regulatory filing.

The merged entity would have a subscriber base of over 27.2 million, creating the largest DTH service provider in the industry.

Dish TV has an active subscriber base of 15.5 million, while that of Videocon d2h stands at around 12.2 million. The DTH industry has around 62 million active subscribers.

The merged entity will be renamed as Dish TV Videocon Ltd. The total revenue of Dish TV and Videocon d2h was Rs 5,915.8 crore on a pro-forma basis for the fiscal ended March 31, 2016.

Meanwhile, shares Dish TV were trading at Rs 81.15 apiece, up 0.12 per cent from the previous close at 12:25 hours on BSE.