Cable TV

Hathway raises Rs 150.40 crore

MUMBAI: After getting board approval of raising Rs 150.40 crore from preferential allotment of shares on 10 September, the multi system operator (MSO) Hathway Cable & Datacom has now issued a notice on BSE intimating the preferential allotment of 47,00,000 Equity Shares of face value of Rs 10 each of the company to CLSA Global Markets (CLSA).


 “The Board of Directors of the Company at its meeting held on 14 October 2014, have allotted 47,00,000 fully paid-up equity shares of face value of Rs 10 each (the Equity Shares) of the Company to the following allottee at a price of Rs 320 per Equity Share (inclusive of premium of Rs 310 per Equity Share) aggregating to Rs 150,40,00,000 (Rupees one hundred fifty crore forty lakh only) by way of a preferential allotment, ” the company statement said.


“As per the provisions of the ICDR Regulations, the Equity Shares allotted to CLSA Global Markets PTE. Ltd shall be locked in for a period of one year, from the date of receipt of Trading Approval,” the statement added.


After the board meeting, the MSO also revealed that, “Consequent to the Preferential Allotment, the issued, subscribed and fully paid-up Equity Shares of the Company has increased from 16,13,98,900 Equity Shares to  16,60,98,900 Equity Shares. The total shareholding of the promoter/promoter group entities in the company now stands reduced from 44.74 per cent to 43.48 per cent of the expanded share capital.”


After the board meeting held on 9 September, the company had announced raising of Rs 300.40 crore. Capital Partners' Smallcap World Fund and Global Small Capitalisation Fund bought a total of 94 lakh shares for the fund raising.

Latest Reads
Competition regulator okays Goldman Sachs stake purchase in Den Networks

Investment banking major Goldman Sachs has received the Competition Commission's approval to increase its stake in Den Networks to over 24 per cent by acquiring additional shares through preferential allotment route.

Cable TV Multi System Operators
DAS petitions challenging constitutional provisions listed for 3 November

With the division bench taking cognisance of several cases relating the digital addressable system (DAS) Phase III which challenge constitutional provisions, the Delhi High Court will hear the DAS cases on 3 November, 2016

Cable TV DAS
MSOs finally cross 1000 as pan-India DAS deadline nears

With less than three months to go for the deadline of the final phase which will complete cable digitlization all over the country, the total number of multi-system operators has finally crossed 1000 with 774 getting provisional licences till 30 September 2016.

Cable TV Multi System Operators
Several DAS III petitions may be transferred to Division Bench of Delhi High Court

NEW DELHI: The Digital Addressable System (DAS) Phase III legal wrangle is moving on, albeit slowly and steadily.  Lawyers appearing on behalf of the multi-system cable TV operators (MSO) will inform a single-judge bench of the Delhi High Court about a large volume of cases relating to DAS III...

Cable TV DAS
Going a la carte with Star and Indiacast has helped: Bibhu Prasad Rath

Bhibu Rath heads one of the small regional cable TV players in the TV distribution business: Ortel Communications. The MSO began as a local player in the state of Odisha. But, it has since spread into neighboring states such as Chattishgarh, West Bengal, Andhra Pradesh and Telangana. In fact, it...

Cable TV Multi System Operators
Bihar govt trebles cable TV entertainment tax to Rs 50

Even as the government is working on subsuming entertainment and other incidental taxes into a goods and service tax (GST) which would be around 18 per cent, cable TV subscribers in Bihar are about to be delivered a blow to their wallets.

Cable TV Multi System Operators
DEN seeks Goldman Sachs investment nod from shareholders

MUMBAI: Leading Indian multisystem cable TV operator (MSO) DEN Networks –promoted by Sameer Manchanda- which got its board’s nod to issue another 1.58 crore shares at a price of Rs 90 per share to existing investor Goldman Sachs is now seeking shareholder approval for the same through an...

Cable TV Multi System Operators
NXT Digital-InCable merger gets shareholder nod; D’Silva bemoans lack of ecosystem support

MUMBAI: Hinduja Ventures Ltd’s (HVL’s) proposal to demerge its NXT Digital headend in the sky (HITS) business from its subsidiary Grant Investrade Ltd (GIL) and merge it into its cable TV MSO offshoot Indusind Media & Communications Ltd (IMCL) got the thumbs up from its shareholders at its...

Cable TV Multi System Operators
Comcast to launch wireless service using Verizon

Here is good news for all Comcast subscribers. The US cable giant’s chief executive Brian Roberts has announced the launch of a wireless service by mid-2017. It plans to create a service that would run on its 15 million WiFi hotspots and use Verizon's wireless network through a deal struck in 2011...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories