WWIL lines up Rs 2.5 bn debt, plans to deploy 2.5 mn STBs in first phase

MUMBAI: Wire and Wireless (India) Limited, lagging behind the other leading multi-system operators like Hathway Cable & Datacom and Den Networks, is planning a revival.

The Subhash Chandra-promoted MSO has lined up a debt of Rs 2.50 billion from a consortium of banks and is looking at deploying Rs 2.5 million set-top boxes in the three metros of Delhi, Kolkata and Mumbai that fall under the first phase of digitisation mandated by the government.

The company appointed Anil Malhotra, who was earlier with Digicable, as its chief operating officer a few months back after its CEO Sudhir Agarwal quit the company.

Mahipal Rawat has also joined from Digicable as WWIL COO - Siticable. He was national head operations -Analog at Digicable.

“We are importing 2.5 million STBs and have obtained line of credit. We have a presence in three of the metros that fall under the first phase of digitisation, unlike many of the other MSOs who have a footprint in two of them. We are positive about digitisation,” says Malhotra.

WWIL has a debt of around Rs 3.30 billlion, according to data till 30 September 2011. For the fiscal ended 31 March 2011, the company posted consolidated operating revenue of Rs 3.06 billion, up 12 per cent from the earlier year, while net loss narrowed to Rs 659.2 million. In the third quarter of the fiscal ended 31 December 2011, its net loss stood at Rs 147.3 million, widening from Rs 103.9 million posted a year ago, while operating revenue rose 17.1 per cent to Rs 871.7 million.

“We have firmed up debt of Rs 2.5 billion from a consortium of banks. Our network and digital head-ends are ready in Delhi and Kolkata and we will need some capex in Mumbai. We are geared up for digitisation,” said WWIL finance head Sanjay Goyal.

WWIL had raised Rs 4.48 billion from rights issue and its cash reserves stood at around Rs 800 million till 30 September 2011.

“We have reduced our head-ends and are centralising them. Our eventual plan is to have one national digital head-end,” says Malhotra.

Latest Reads
Pune Times joins hands with the Pune Police to launch the 'City Safe' app, as part of #MakeMyCitySafe initiative

Pune Times, city supplement of leading media house, The Times of India, has joined hands with Pune Police to support an initiative for women’s safety in the city. Pune Times has launched its campaign #MakeMyCitySafe as a big shout out to the youth of Pune to come together to make the city safer...

Technology Software Applications
HAL Robotics ropes in Navanit Samaiyar as board member and advisor

MUMBAI: HAL Robotics has roped in Navanit Samaiyar as its board member and advisor. Samaiyar has a record of setting up, scaling and transforming businesses across a very wide cross section of industries spanning from IT/ ITeS to steel, telecom, engineering goods, earthmoving machinery, logistics...

Technology Hardware Components
Republic TV launches Android app

MUMBAI: Republic TV is on a roll. From rocking the ratings chart in launch week itself to going international, the channel has added one more accomplishment to its kitty. The Republic TV Android app is now live.

Technology Software Applications
STB cos in India, China enhancing features, providing customised solutions, Technavio enlists top vendors

MUMBAI: The global STB market is characterised by intense competition as the market is saturated in developed countries. The market share of these players is declining because of the entry of new players. The STB companies are enhancing the features of STBs and providing customised solutions to...

Technology Hardware Set-top Boxes
India's PFT Clear Media ERP suite to help US' PBS content delivery

MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, announced that its CLEAR™ Media ERP Suite has been selected by Public Broadcasting Service (PBS) to enhance their Network Operations Center (NOC) ecosystem efficiencies and sustainability, with the objective of reducing...

Technology Software Applications
Broadcasters, OTTs to gain as Via adds xHE-AAC at special rate

MUMBAI: Via Licensing Corporation, a intellectual property solutions provider, has announced the upcoming availability of Extended High Efficiency AAC (xHE-AAC) as part of the Advanced Audio Coding (AAC) patent pool. The expanded patent pool licence will be available at no additional cost to...

Technology Software Applications
Tata Comm to deliver Motorsport videos on global devices

MUMBAI: Tata Communications will now deliver video content for viewers' all devices over its global network. The two have partnered to power the growth of the network’s internet television platforms.

Technology Software Applications
How to create live video content sans pros, convert radio broadcast into visual show

MUMBAI: ChyronHego will be showcasing its live production, automation solutions at Broadcast India show in Mumbai in mid-October.

Technology Software Applications
Sony renews IP licence deal with TiVo

MUMBAI: TiVo Corporation, a leader in entertainment technology and audience insights, has announced that Sony Corporation, a leader in consumer electronics, has renewed its multi-year intellectual property (IP) licence agreement. The license to TiVo’s patent portfolios covers all of Sony’s...

Technology Software Applications

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories