Cable TV Powered by

Hathway Cable gets board nod to hike FII limit to 74 per cent

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/cable_tv_images/2015/01/08/hathwat%20logo.jpg?itok=Qwm_cFu2

MUMBAI: It was in 2012, when the government had relaxed foreign direct investment (FDI) limit in direct to home (DTH), cable TV industry and teleports from 49 per cent to 74 per cent. In keeping with this, Hathway Cable & Datacom which early this week became the first multi system operator (MSO) to have crossed the $1 billion mark in terms of enterprise valuation, is now probably looking at attracting overseas capital into the company.



The MSO has in an announcement to the BSE informed that its Board of Directors have approved and passed the resolution to increase the foreign investment limit from the current 49 per cent to 74 per cent, this subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India.



“Subject to receipt of approval of the Foreign Investment Promotion Board of India, Ministry of Finance (FIPB) and / or the Reserve Bank of India (RBI) and all other applicable authorities, increasing the foreign investment limit only by Foreign Institutional Investors, Foreign Portfolio Investors, etc. under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of the Foreign Exchange Management Act (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 in the Company from 49 per cent to 74 per cent of the issued arid fully paid-up share capital of the Company,” reads the announcement.



The Hathway Board has also passed the resolution of a postal ballot notice along with the explanatory statement and calendar of events for seeking approval of the shareholders of the Company by postal ballot for its foreign investment proposal.



According to Hathway Cable & Datacom CEO and MD Jagdish Kumar Pillai, the cable TV sector is becoming lucrative for foreign investors. Pillai had earlier told Indiantelevision.com, “With broadband and cable TV getting more transparent, the market is viewing this as a great industry to invest in the next five years, and that’s reflected in the balance sheet. It is a promise of a good potential.”



With the industry getting more organised courtesy its digitsation drive, Pillai expects more foreign investors to pump in funds into the cable TV sector.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/14/DPOs.jpg?itok=OUJxjEM3
Guest Column: The way forward for DPOs, broadcasters in the new TRAI tariff regime

During the early 2000s, cable television began to spread rapidly across India and the cable distribution business rapidly shifted from the early muddled phase towards a more corporate structure which put emphasis on the rationalisation of business practices, billing system transparency and...

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/13/gtpl_hathway.jpg?itok=gGGIpOfc
GTPL cable TV business revenue up; broadband business keeps afloat

Indian multi-system operator and internet service provider GTPL Hathway Ltd (GTPL) reported 12.6 percent increase in total income for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter (y-o-y) Q3 2018. GTPL’s Total Income...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/13/TV_REMOTE.jpg?itok=93_cgpDz
TRAI steps in after 24% homes lose complete access to all pay channels

The Telecom Regulatory Authority of India (TRAI) on Tuesday extended the deadline for consumers to select television channels under its new tariff regime till 31 March The subscribers that don’t opt for new channels would be moved to ‘Best Fit Plans’, which would be developed as per usage pattern...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/09/Vynsley-Fernandes.jpg?itok=UKAu6IuE
IMCL highly optimistic about impact of tariff order on business

Indusind Media & Communications Ltd (IMCL), the Hinduja Ventures Ltd (HVL) subsidiary, is highly optimistic about the impact of the new tariff order on its business. The MSO asserts that the new regime ensures a more equitable distribution of economic benefits in the value chain.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/05/Rajan-Raheja.jpg?itok=VHvWkg7x
Rajan Raheja resigns as non-exec director of Hathway Cable and Datacom

Billionaire industrialist Rajan Raheja has resigned as non-executive director of Hathway Cable and Datacom Ltd on 30 January. A pioneer in the Indian cable TV industry, he has been widely credited for Hathway’s expansion.

Cable TV People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/05/tv.jpg?itok=CabHf4oe
Siti Networks in Kolkata to migrate pay channels to new TRAI tariff scheme in phased manner

Essel group promoted multi-system operator (MSO) Siti Cable has planned to blackout TV screens in Kolkata in a phased manner to get non-compliant subscribers to transition to the new TRAI tariff regime. While around 80 per cent of the MSO's 14 lakh subscribers were still to pick their pay channels...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/02/04/tv.jpg?itok=BHRGLo-9
NDMC is first civic body to provide HD cable TV service

New Delhi Municipal Corporation (NDMC) has become the first civic body to provide high-definition cable television services to residents of Lutyens' Delhi from mid-February.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/24/hathway.jpg?itok=wjkx7Rg1
Hathway back in black in Q3 2019

Broadband internet services provider Hathway Cable & Datacom Limited reported a standalone profit after tax and standalone net comprehensive income of Rs 6.44 crore and Rs 6.27 crore respectively for the quarter ended 31 December 2018

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/23/mukesh.jpg?itok=5x_7gCOf
RIL subsidiary gets Competition Commission nod for Den, Hathway acquisition

The Mukesh Dhirubhai Ambani led Reliance Industries Limited has informed the bourses that permission from the Competition Commission of India for acquisition of shares and control of Den Networks and Hathway Cable & Datacom

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories