DTH

WWIL likely to raise $100 million via QIP

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/dth-images/2016/04/27/zeee.jpg?itok=wmNk7luf

MUMBAI: Wire & Wireless India Ltd (WWIL), Zee Group's demerged cable company, is likely to raise $100 million through qualified institutional placement (QIP) to fund its expansion programme including digitalisation and acquisition of cable operators.

"WWIL is likely to raise $100 million via QIP as part of its fund raising programme but will take a final decision on this soon. Everything will depend on the market conditions," a source close to the company says.

When contacted, WWIL managing director Jagjit Singh Kohli said the exact amout and instrument has not yet been decided. "I will be able to comment after we have decided and taken the shareholders' approval," he added.

WWIL is making a preferential issue of convertible warrants to Jayneer Capital, a promoter group company, up to Rs 1.31 billion as part of its fund raising programme. This will translate to around 5 per cent equity in WWIL. The conversion price of the warrants into equity shares will be at Rs 122. The company has convened an EGM (Extra Ordinary General Meeting) on 26 February for shareholders' approval on the issue of preferential warrants.

"The dilution, along with the warrants, will be around 20 per cent at the current prices if WWIL takes up the $100 million mopping up exercise through QIP," the source says.

WWIL has aggressive plans to expand its digital cable business and had earlier projected a fund requirement of Rs 7.14 billion over two years.

The company recently announced that it would seek shareholders' approval for raising up to $250 million (approximately Rs 11.25 billion). The board which met on Monday considered all the fund raising options including issue of ADR (American depository receipt), GDR (global depository receipt), equity, debt, debentures, FCCB (foreign currency convertible bond), QIP (qualified institutional placement) and convertible warrants.

 

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/13/tatasky.jpg?itok=UMHTJJtj
Tata Sky’s first ever App only flash sale ‘Tata Sky JingalalaAPPiness Offers’ live from 11th February

MUMBAI; Tata Sky, India’s leading content distribution platformannounces its first ever App only flash sale,‘Tata Sky JingalalaAPPiness Offers’on theTata Sky Mobile App.Establishing the mobile app as a one stop destination for both – utility and content, the weeklong offerings on the App are...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/05/Airtel%20digital%20TV.jpg?itok=5FQ5N8F5
Airtel Digital TV revenue stands at Rs 792.2 crore in the third quarter

MUMBAI: Telco giant Bharti Airtel’s direct-to-home (DTH) arm Airtel  Digital TV’s  total revenue increased to Rs 792.2 crore in the third quarter from Rs 789.3 crore in the previous quarter. The DTH operator’s EBITDA stood at Rs 544.1 crore for the quarter compared to Rs 560.7 crore in the trailing...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/10/planet.jpg?itok=WVQ3u0YP
PlanetCast achieves tier 3 certification from WTA

MUMBAI: PlanetCast has achieved tier 3 certification for its New Delhi Teleport under WTA’s Teleport Certification Programme by  The World Teleport Association (WTA.

DTH DTH Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/09/d2h.jpg?itok=3BJ0YEqY
Dish TV adds one more channel in its bouquet, launches Fitness Active

MUMBAI: With an aim to make its users fit, Dish TV, a direct-to-home (DTH) service provider, has come up with the Fitness Active channel. The service provider has bouquet of channels with the brand called Active. The Fitness Active channel to feature Bollywood actor Tiger Shroff teaching and...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/08/icra.jpg?itok=YrL2pVxl
Subscribers' DTH/Cable bills to go down by 14% for a-la-carte channels: ICRA

MUMBAI: The recent Telecom Regulatory Authority of India (TRAI) amendments over tariff charges could potentially lower the direct-to home (DTH)/ cable bills of the subscribers up to 14 per cent from the present levels, a credit rating agency ICRA said in an analytical report. According to a press...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/07/amazon.jpg?itok=rV5ZMBg-
Amazon Fire TV stick active users soar to 40 million globally

Mumbai: As preferences of people shifting from cable TV to video-on-demand, Amazon Inc on Monday said its streaming device Fire TV stick has surpassed over 40 million active users globally. Amazon Fire TV has successfully left behind the Roku TV, a US-based digital media player that allows...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/31/tata-sky.jpg?itok=vnc9_z1h
Tata Sky Theatre to premiere iconic Marathi play 'Natsamrat'

MUMBAI: Tata Sky Theatre in partnership with Zee Theatre is all set to premiere the most gripping, unconventional play of Marathi ‘Natsamrat’ as tribute to the Late Dr. Shriram Lagoo, who played a leading role in the play written by Vishnu Vaman Shirwadkar. The joint venture between Tata Sky...

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/28/setup-box.jpg?itok=_Pcgs81j
DTH service providers say STB interoperability unlikely to succeed in current conditions

Tata Sky, Dish TV and Hathway – Indian direct to home (DTH) service providers have provided their inputs to Telecom Regulatory Authority of India (TRAI)’s consultation paper on the issue related to interoperability of set-top-boxes (STB).

DTH DTH Operator
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/12/21/DISH_TV.jpg?itok=IHQqnbiX
Dish TV India, Tata Elxsi collaborate to launch 'Orbit'

MUMBAI: Dish TV India has collaborated with Tata Elxsi to roll-out ‘Orbit’, its new user interface (UI) for SMRT & Magic range of connected products for both its brands DishTV & d2h. The plan has been executed for consumers to have seamless TV and online viewing experience. Orbit is packed...

DTH DTH Services

Sign up for our Newsletter

subscribe for latest stories