Rs 940 million FDI application in Hindustan times cleared

NEW DEHI: The Indian government today approved 57 foreign direct investment (FDI) proposals worth more than Rs 6.3 billion, including increase in foreign equity in Hindustan Times Media and restructuring of Hutchison Max in India.

The FDI applications, amounting to Rs 6339.8 million to be exact, were okayed by the finance ministry on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 25 October, 2004.

Hindustan Times case relates to Henderson Asia Pacific Equity Partners of the UK upping its stake in an HT joint venture company, HT Media Ltd, to 26 per cent from 19.23 per cent. Henderson is making the investments through its affiliate HPC (Mauritius) Ltd.

This approval would bring into the joint venture company, set up to undertake a variety of activities, including those related to the Internet, radio and TV, an additional sum of Rs 940 million.

At one time it was being speculated that it would be this joint venture company that would launch HT's Mumbai edition.

Meanwhile, the government okayed restructuring of Hutchison Telecommunications (India) Ltd, Mauritius and Hutchison Max Telecom Private Ltd.

The proposal involves consolidation of equity by Hutchison Max Telecom Private Limited in its Indian telecom companies by way of acquisition of entire domestic and foreign shareholding and in lieu of issuing its shares.

The proposed restructuring had been pending a government nod for quite some time now and would pave the way for an IPO of Hutch. This particular case was taken up by the FIPB on 27 October.

Latest Reads
Comedy Central sets pace for ultimate celebration with over 100 hours of non-stop FRIENDS ultra marathon for its 6th birthday

Birthdays and New Years are great occasions to make resolutions for participating in marathons. However, this is one marathon which calls for hanging up your running shoes and grabbing the best spot in front of the telly with a bowl of munchies to keep you going because, for the first time ever in...

Television TV Channels English Entertainment
U Sports launches India's first ever Multi-Platform Multi-Game E-Sports Championship - U Cypher with MTV

The Indian E-Sports scenario is all set for a major revamp as U Sports, one of India’s biggest sports business companies in association with India’s No. 1 Youth Brand, MTV, announces the premiere of their all new month-long championship, U Cypher with MTV. Premiering today, on 19th January, the...

Television TV Channels Sports
TV ownership increased by 14% in 2017: IRS

After a gap of four years, the Indian Readership Survey (IRS), which documents the growth of the media industry, has been released for 2017. The survey methodology was criticised in 2014 and, therefore, was halted for an upgrade. This time, the sample size has been increased by 34 per cent to 3.2...

Television TV Channels Viewership
CNN-News18 launches 'If I Were FM Challenge'

As part of its Budget programming, CNN-News18 is launching the ‘If I were FM Challenge’. The campaign will encourage viewers to contribute their suggestions for the Union Budget. The channel will run an extensive on-air campaign to promote the same.

Television TV Channels News Broadcasting
BBC World News to Broadcast 'China's Chat Girls'

Lele Tao is an internet superstar in China’s $3 billion dollar ‘live streaming’ industry. With more than a million fans she can earn thousands of dollars a day singing, dancing, flirting, or often just chatting into her webcam. Fans buy her virtual gifts which she redeems for cash. In return she...

Television TV Channels News Broadcasting
PKL season 6 and 7 dates announced

The second most watched domestic league in India, Vivo Pro Kabaddi League owned by Mashal Sports and Star India announced the dates of sixth and seventh season.

Television TV Channels Sports
Star Bharat leads Hindi GEC (U+R) in week 2 of BARC ratings

MUMBAI: Star Bharat emerged as the leader in the Hindi GEC (U+R) genre dethroning Zee Anmol according to Broadcast Audience Research Council (BARC) all India data for week 2 of 2018.

Television TV Channels Viewership
BARC week 2: Aaj Tak leads Hindi News in all three markets

MUMBAI: Republic TV continues its leading streak in the second week of the year as well in BARC All India ratings. News Nation stays in the top five chart in week 2 of 2018 in Hindi News Rural market. Aaj Tak tops the chart again in Hindi News Urban market.

Television TV Channels Viewership
Dsport acquires India rights of tri-nation tournament in SL

Discovery’s sports channel Dsport has acquired the exclusive India broadcast rights of Nidahas Trophy 2018, a tri-nation international T20 tournament involving India, Sri Lanka and Bangladesh. The transaction was facilitated by Lagardère Sports, the global marketing consultant of Sri Lanka Cricket...

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories