Cable TV

RIL to sell stakes in Den, Hathway for Rs 1,122 crore

The OFS will open for non-retail investors on 26 March and for retail buyers on 30 March.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2021/03/26/reliance.jpg?itok=Pf8WUqjY

NEW DELHI: Reliance Industries Ltd (RIL) is getting ready to divest its shares in Den Networks and Hathway Cable through offers for sale (OFS) in compliance with the minimum public holding norms laid down by the Securities and Exchanges Board of India (SEBI).

RIL will sell its stakes in Den and Hathway, acquired through its subsidiaries in 2018, for Rs 853 crore and Rs 269 crore respectively.

According to a BSE filing, Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings, promoters of Hathway Cable & Datacom, will sell 338 million shares, or a 19.1 per cent stake with a floor price of Rs 25.25. The promoters currently hold 94.09 per cent stake in Hathway.

Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Television Distribution Holdings will sell 55.5 million shares, or an 11.63 per cent stake, in Den Networks with a floor price of Rs 48.50

The OFS will open for non-retail investors on 26 March and for retail buyers on 30 March. In both the offers, 10 per cent of the offered shares are reserved for retail investors.

It may be recalled that in February 2020, RIL had merged Den Networks and Hathway with Network18 and TV18 to consolidate its media and distribution businesses under one umbrella entity.

The multinational conglomerate had acquired a majority stake in Hathway and Den in October 2018. At that time, it had invested around $1 billion to acquire 58.92 per cent and 51.34 per cent stake in Den Networks and Hathway Cable, respectively. Prior to this, Hathway was owned by the Raheja Group and Sameer Manchanda held a majority stake in Den.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/07/20/photogrid_plus_1626785199704.jpg?itok=R048a_NR
GTPL Hathway records standalone net profit of Rs 30.5 cr in Q1 FY22

New Delhi: Cable TV and broadband service provider GTPL Hathway Limited (GTPL) has clocked a standalone net profit of Rs 30.5 crore for the quarter ended 30 June.

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/22/photogrid_plus_1624359330309.jpg?itok=XUX6eSDu
TCCL implements ATEME's Titan Live solution for its cable TV platform

Mumbai: ATEME on Tuesday announced that Thamizhaga Cable TV Communication Pvt Ltd (TCCL), one of the largest cable distribution companies in India, has chosen to implement its TITAN Live solution for their cable TV platform.

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/14/covid.jpg?itok=U3NG28BO
Cable operators take steps to ease vaccination process for staff

Despite the imminent health risks, the cable industry employees have continued to work on the frontlines all through the pandemic. Now with vaccination drives in full swing across the country, leading cable operators, too, are taking a step ahead and getting their employees inoculated.

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/02/lion.jpg?itok=Mkkxli9P
Make in India push for set-top boxes face challenges

Last year it made headlines when large DTH players including Tata Sky, Dish TV announced their decision to move manufacturing of a significant portion of set-top boxes (STBs) in India. The announcements were in line with the government’s renewed push for Make in India.

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/05/28/photogrid_plus_1622202521753.jpg?itok=y08KzcS4
Cable industry veteran Lt Col VC Khare passes away

KOLKATA: Cable TV expert, retired Lt.Col VC Khare has passed away. He contributed to the cable TV industry in India at different roles for nearly three decades. He was a member of the Bureau of Indian Standards (BIS) where he played a significant role in formulating 8 BIS Specification for cable TV...

Cable TV People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/05/28/scte.jpg?itok=MwjNRr76
SCTE India announces its new executive board for the term 2021-2024

New Delhi: The Society of Cable Telecommunication Engineers (SCTE), India has appointed NXTDIGITAL Limited MD and CEO, Vynsley Fernandes as the honorary chairman, Sandeep Bhargava as the president, and Rahul Nehra as the national secretary. The announcement was made at the recently held annual...

Cable TV People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/05/28/gtpl.jpg?itok=WjizDO6I
GTPL KCBPL partner with UKIO, spread smiles

GTPL KCBPL has partnered with UKIO to spread smiles during these difficult times and expand their product offering. UKIO is a personalised messaging platform that allows users to share video call messages with their loved ones via their favourite celebrity icons.

Cable TV Local Cable Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/05/15/nxtdigital-800.jpg?itok=RqpFCVPF
NXTDigital turns around its business with Rs 13.66 crore profit in Q4

KOLKATA: NXTDigital has turned its business profitable by raking in Rs 13.66 crore profit after tax (PAT) for the fourth quarter. The company has reported Rs 277.96 crore consolidated revenue for the quarter. It posted Rs 0.32 crore PAT in the previous quarter and a loss after tax of Rs 43.43 crore...

Cable TV Multi System Operators
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/05/11/gtpl.jpg?itok=5n9qVSq-
GTPL Hathway earmarks Rs 400 crore capex for FY22

Pan India multi-system operator (MSO) GTPL Hathway is increasing its capex projection for FY22 to Rs 400 crore, compared to Rs 335 crore it invested in FY21, a top executive revealed in an investors call.

Cable TV Local Cable Operators

Sign up for our Newsletter

subscribe for latest stories

* indicates required