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
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW – a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India’s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India’s leading...

Technology Software Firmware
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ‘FalconEye’ to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights™ OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo’s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo’s G-Guide xD app and remote schedule...

Technology Hardware Components
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories