HTMT to prefer strategic investor in demerged media firm

MUMBAI: Hinduja TMT has initiated talks and would prefer inducting a strategic rather than a private equity investor into its demerged media company.

The possibility of roping in an investor would be only after the listing of the two entities. The demerger process is underway and a listing is expected by February-end after the restructuring process gets the necessary regulatory approvals.

"We would prefer to go with a strategic rather than a private equity investor. We feel inputs from a strategic partner would give us a competitive edge," said IndusInd Media and Communications Ltd (IMCL) director-in-charge Ravi Mansukhani.


On being queried as to whether global major Liberty was in talks, Mansukhani said "there were a bunch of them" who were interested in India‘s cable story. "All investors are waiting for conditional access system (Cas) to roll out before they come with definite valuations," he added.

Unlike Zee‘s Wire & Wireless Ltd (WWIL) which is keen to acquire 51 per cent in cable networks, IndusInd Media and Communications Ltd (IMCL) is adopting a different business plan where it wants to partner rather than buy out operators.

The Hinduja Group, which operates its cable TV business under Incablenet brand, is planning to offer cable TV operators a share in the demerged media company based on the subscribers they declare. No decision has been taken as to the exact ratio that would be on offer.

"Our expansion plan includes offering shares in HTMT (after demerger) to operators as they form an integral part of our distribution chain. Our idea is to partner with the local cable operators rather than buy them out," said Mansukhani.


HTMT is unifying its media subsidiaries under one umbrella while spinning off its IT/ITES business into a separate entity. As part of the restructuring, In2Cable (subsidiary which is into broadband business) and InNetwork Entertainment (content) are being merged into IMCL (cable TV distribution under Incablenet brand). The parent company for the consolidated media business will be HTMT (an existing listed entity). The demerged IT/ITES entity will be listed under HTMT Technologies.


Latest Reads
Highly-beneficial interactions take place at Broadcast India '16

The 26th Broadcast India Show concluded over the weekend in Mumbai, and was easily the most exciting Broadcast India Show yet. With thousands of eager, high-quality trade visitors swarming the show floor, a sentiment signalling highly-beneficial exchanges and interactions echoed through the halls...

Technology Software Applications
India, China to propel APAC, beat CAS Europe market share

APAC is expected to overtake the market share of Europe in future due to an increasing demand for digital TV set-up boxes in countries such as China and India. North America and Europe dominated the global CAS market in 2015. APAC region is estimated to mark a growth rate of 12.0 per cent CAGR...

Technology Hardware Set-top Boxes
India lucrative market for 4K UHD STBs: Grand View Research

Here’s a view on the demand for 4K or ultra high definition (UHD) set-top boxes (STBs) in India.

Technology Hardware Set-top Boxes
Infor appoints Dass as south Asian subcontinent V-P

Infor, a leading provider of business applications specialized by industry and built for the cloud, has appointed Ashish Dass as the vice president and managing director for the south Asian subcontinent. Infor software helps eliminate the need for costly customization through embedded deep...

Technology Software Applications
Siti & DishTV opt for Conax conditional access

The Essel group has been using Conax’s tech for sometime now for its Siti Network (earlier known as Siti Cable). Now the group has extended that partnership for another product for both Siti Network and DTH operator Dish TV India. This time it is for the cardless set top boxes that the two are...

Technology Hardware Set-top Boxes
Imagine Communications extends functionality of Selenio One unified transcoding platform to OTT

MUMBAI: Imagine Communications, empowering the media and entertainment industry through transformative innovation, today introduced a high-density adaptive bitrate (ABR) transcoding product built on Selenio One™, the company’s software-defined linear transcoding platform. Selenio One is designed...

Technology Hardware Components
DJI Makes Your Smartphone Smarter with the New Osmo Mobile

DJI, the world leader in creative camera technology, Thursday launched the Osmo Mobile, an extension for smartphones that turns them into intelligent, precision camera systems.

Technology Hardware Components
Prime Focus Tech gets funding from PE firm Ambit Pragma

MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus - informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

Technology Software Applications
Three new products developed by C-DOT launched on its Foundation Day

Communications Minister Manoj Sinha today expressed the hope that 100,000 Gram Panchayats (GPs) will be connected through Optical Fibre Cable (OFC) by March next to set up a network infrastructure to serve the rural masses.

Technology Hardware Distribution

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories