Technology

DEN Networks to raise $160 million through share sale

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2017/01/19/DEN-NETWORK2_0.jpg?itok=-elXDC-4

Mumbai: That India?s cable TV digitization drive in phases is going to soak up a lot of investment ? running into a few billion dollars - is well known. Some of the MSOs have been working to stay ahead of their capital requirement curve. Take national MSO DEN Networks founded and led by former TV executive Sameer Manchanda.

It has a presence in roughly 11 million households in over 150 cities across 13 key states in Delhi, Uttar Pradesh, Karnataka, Maharashtra, Gujarat, Rajasthan, Haryana, Kerala, West Bengal, Jharkhand, Bihar, Madhya Pradesh and Uttarakhand. The MSO has been at the forefront of digitising cable TV nationally since mid-last year and with the next phase of digitization into smaller towns going on and expected to intensify in the next year, it desperately requires cash.

And it is reaching out to foreign institutional investment to meet that need. It announced on 6 May that it had got board approval to sell equity to raise about $160 million. This was communicated to the stock exchanges on 6 May.

Part of that will be raised through a preferential equity allotment to Goldman Sachs? Singapore registered affiliates Broad Street Investments and MBD Bridge Street 2013 Investments for a total amount of $110 million at a issue price of 217.50 per share (face value: Rs 10).

The allotment is of course subject to shareholder and other regulatory approvals.

In addition to this, it got the board?s go-ahead for a qualified institutional placement plan to qualified institutional buyers for raising another $50 million at a price of Rs 217.23 per share.

DEN had got board approval in end March to divest 26 per cent of its paid up share capital.

An April end extra ordinary general meeting saw it getting shareholder approval for increasing its FII limit. Earlier this year, it had doubled its borrowing powers from Rs 1000 crore.

The company?s share rose 2.14 per cent at its closing price of Rs 226.75 on the BSE on 6 May.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/16/divesh.jpg?itok=zBE4YL3k
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/14/TiVo-800.jpg?itok=YeoN1Hcd
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/09/iot.jpg?itok=8nXgmc_U
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/05/08/lexi.jpg?itok=uPD543QG
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/04/13/nabshow.jpg?itok=S9rP2yss
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/04/09/magai.jpg?itok=233hZ8S7
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/03/08/tivo.jpg?itok=1e68Zg0C
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/01/25/priyanka.jpg?itok=s2F-oxzy
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
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/01/24/etere_0.jpg?itok=PCzLNCEq
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