Cable TV

Siti Cable Network looks to raise Rs 600 crore

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/cable_tv_images/2014/07/18/siti_0.jpg?itok=t4MI5wta

MUMBAI: Essel Group’s subsidiary Siti Cable Network has decided to raise funds worth Rs 600 crore through the issuance of securities. This will be used for operations of the company.

In a statement to the BSE, Siti Cable has said that it has received in-principle approval from its board of directors to raise funds through “issuance of securities such as Equity or Equity related instruments up to rupee equivalent of US$ 100 millions - through private placement / Qualified Institutions Placement ("QIP") / External Commercial Borrowings (ECBs) with rights of conversion into Equity Shares / Foreign Currency Convertible Bonds (FCCBs) / American Depository Receipts (ADRs) / Global Depository Receipts (GDRs) or any other securities convertible into or exchangeable for Equity Shares or securities linked to Equity Shares.”

This is subject to approval from shareholders and other such approvals. The board has also approved the draft of the postal ballot notice for seeking approval from members of the company including issuance of securities.

The promoters had pumped in Rs 324 crore in three tranches between March 2013 to April 2014. This had increased the promoter shareholding to 72.82 per cent. These funds were being used for business expansion and debt reduction.

The company’s CEO VD Wadhwa had in an interview to indiantelevision.com in January 2014 said, “Phases III and IV of digitisation has a total universe of about 90 million. Of these, we are targeting 6 to 7 million homes. At a gross level, we will require an investment of Rs 1200 crore. On a net basis, we are expecting an investment to the tune of Rs 600 crore. The funding of phase III will be largely done through warrants’ funding of Rs 243 crore, which is likely to be invested by promoters before March 2014. Balance funding requirement will be met through internal accruals and raising of further equity, as may be required.”

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/Den-Networks_SN-Sharma.jpg?itok=k0gPy6v1
Den receives Law Tribunal nod for restructuring

Indian multi system operator (MSO) Den Network Limited (Den) and wired broadband internet services provider has informed the bourses today (Friday) that the National Company Law Tribunal has approved a composite a composite scheme of arrangement for merger of 23 subsidiaries and demerger of one...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/Tact-TV-Story_0.jpg?itok=n-2vljb_
Arasu seeks more time to go digital as it waits for STBs

Even as the deadline for it to go digital concludes tomorrow, the Tamil Nadu Arasu Cable TV Corporation has sought more time from the Information and Broadcasting Ministry.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/14/flash%20%281%29.jpg?itok=4m0L_60x
Restructuring brings Hathway to black in first quarter

Restructuring at Indian multi system operator (MSO) Hathway Cable and Datacom Limited (Hathway) has brought for it a positive bottomline.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/14/punjab.jpg?itok=7-JPUf54
Punjab govt proposes law on outdoor advertising, decision to tax cable, DTH subs pending

Not content with exploring additional local taxes on cable and DTH connections in the state of Punjab, minister Navjot Singh Sidhu now wants to bring in a policy to increase the state government’s revenue from outdoor advertising.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/12/Untitled-1.jpg?itok=AltQ__qy
Siti Networks' operating profit more than doubles in first quarter

BENGALURU:  The Subhash Chandra led Essel group’s television cable network company Siti Networks Limited (Siti) reported EBIDTA including other income or operating profit of Rs 1,071.65 million (28.9 percent of Total Income) for the quarter ended 30 June 2017 (Q1-18, current quarter).

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/11/NXT%20Digital.jpg?itok=gvieRC4b
Hinduja Ventures PAT rises marginally Q1FY18, Nxt Digital HITS 640 districts

NEW DELHI: Hinduja Ventures Ltd (HVL)  on Thursday announced  standalone net profit after tax of Rs. 255 million for three months ended 30 June 2017 as against Rs. 242.1 million during the same period a period ago.. The net PAT for the period ended grew by 5.33 per cent. The total income for the...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/09/gtpl.jpg?itok=wwjqCwK7
GTPL Hathway reports higher numbers and flat q-o-q ARPUs

After declaring a maiden 10 percent dividend for the previous fiscal, the Indian multi-system operator (MSO) and broadband internet services (broadband) provider GTPL Hathway Limited has reported a year-over-year growth in standalone CATV total income of 25 percent for the quarter ended 30 June...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/03/digi.jpg?itok=EA5pHGT-
Godfather, Kal, Digi Cable & Intermedia licence cancellation stayed, 50 'pan-India' MSOs' op area changed

After a spurt till mid-June, the rise in the number of multi-system operators has shown a mild increase of 34 registrations taking the total of registered MSOs to 1455. Early this year, the government had said all provisional multi-system operators will be deemed as having regular licence.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/03/navjot-peeush-kohali.jpg?itok=T6_T2pCk
Retransmission law contravened: Sidhu, Fastway refutes 'monopoly' charge

MUMBAI Punjab minister Navjot Singh Sidhu intends to bring an ordinance for auditing the tax the previous government collected from cable operators. Putting the chief minister Capt Amarinder Singh in a fix, Sidhu has asked him to decide on recovering the ‘tax evaded’ by the MSO -- Fastway Cable...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories