Technology

DEN Networks to raise $160 million through share sale

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/01/19/DEN-NETWORK2_0.jpg?itok=TfgdHPst

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/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/14/apec_0.jpg?itok=F4q4QkOl
A-Pac the biggest market for SOIs, to flourish by 2024

Silicon on Insulator (SOI) caters to the demand of the electronic industry, and thus the market will increase and expand with the varied demands in the electronics domain. The electronic boom in the industry has caused a surge in consumer electronics such as digital cameras, television, gaming...

Technology Hardware Components
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/12/anthony%20%281%29.jpg?itok=1_onx3pu
B'casters' easing ATSC 3.0 transition: Artel, Qligent integrate

Real-time, multimedia delivery solutions company Artel has partnered cloud-based, enterprise-level media analysis specialist Qligent to help broadcasters ease the transition to ATSC 3.0.

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/29/Convergence_0.jpg?itok=YbX2BAHO
Convergence: Sinclair Broadcast co ties up with India's Saankhya

MUMBAI: ONE Media 3.0, a wholly-owned subsidiary of Sinclair Broadcast Group, Inc. has announced an agreement with Saankhya Labs, a leader in the development of Cognitive Software Defined Radio (SDR) chips, to accelerate the development of ATSC 3.0 (the Next Generation standard) chipsets.

Technology Hardware Components
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/Siemens-Sumitomo_1.jpg?itok=5cxUHrJ7
Siemens & Sumitomo win US$ 520m Pugalur-Trichur HVDC and cable VSC order

MUMBAI: A consortium between Siemens and Sumitomo Electric Industries Ltd. has been awarded an HVDC order from Indian transmission operator Power Grid Corporation of India to supply a high-voltage direct current (HVDC) transmission system.

Technology Hardware Components
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/25/Sanjay%20Sethi-800x800.jpg?itok=8Yt0QcPi
Electronic Manufacturing Cluster in Au'bad gets govt nod

NEW DELHI: The the first Brownfield Electronic Manufacturing Cluster (EMC) in Aurangabad under the Electronic Manufacturing Clusters (EMC) scheme has received final approval from the Electronics and Information Technology Ministry. India Electronics and Semiconductor Association (IESA), the premier...

Technology Hardware Components
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/23/stb%20%281%29.jpg?itok=pU2kNGZD
Indian and Chinese companies tie up for pre-integrated VAS Ready STB

Technology company specializing in digital media Corpus and Chinese digital products supplier Jiuzhou are to offer an STB solution bundled with Value Added Services (VAS) applications to enable operators monetize their digital investments and achieve faster ROI and profitability.

Technology Hardware Set-top Boxes
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/21/qw%20%281%29.jpg?itok=xNbG4zeg
Spectranet video delivery optimised through Qwilt

Broadband Internet Service Provider Spectranet has chosen content delivery and open caching solutions provider Qwilt’s award-winning open caching solution to optimise over-the-top (OTT) video delivery and improve Quality of Experience (QoE) for its subscribers.

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/17/camron-o-nil.jpg?itok=isUPKsXu
Adore partners Riedel solution

MUMBAI: In its continuing quest to provide broadcasters with traditional and new media solutions, systems integrator Adore Technologies Singapore has selected Riedel's Artist digital matrix intercom solution for Accenture's state-of-the- art webcast facility in Gurgaon, India.

Technology Software Applications
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/tech.jpg?itok=-NwpprGv
Cloud Force partners Corpus Media for TV internet applications on pay-TV providers

New York City and Hartford, CT-based software and services company Cloud Force Digital Media has selected Corpus Media Labs as its applications development partner.

Technology Software Applications

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories