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MUMBAI: Essel Shyam Communication Ltd, a 50:50 joint venture
between Essel and Shyam Group, has bagged two turnkey projects
for television channels in Bangladesh valued together at $5
million (Rs 225 million).
Bangla Vision, a 24-hour news and entertainment channel,
has used Essel Shyam's services for integrating the complete
set up starting from acquisition (studio) to transmission
(teleport). Essel Shyam is doing similar work for CSB, a news
and entertainment channel which is expected to launch later
this month.
The other contracts include putting up VSATs for ONGC in 154
locations across the country at a value of Rs 164 million and
for ministry of defence at 97 locations in the Himalayan range
for Rs 270 million.
"With this, we are targeting a turnover of Rs 750 million
for this fiscal, up from Rs 537.8 milllion a year ago. For
CSB, the project includes setting up of a complete satellite
channel including newsroom automation," says Essel Shyam
Communication ED and whole time director Lalit Jain.
Essel Shyam is planning to raise Rs 600 million through an
initial public offering (IPO) to fund its expansion plan.
The company has filed Draft Red Herring Prospectus with SEBI
(Securities Exchange Board of India) and proposes to offer
55,00,000 equity shares of Rs 10 each through the book building
process.
Essel Shyam is into the business of providing various services
related to satellite communication such as VSAT, teleport,
SNG/DSNG and BPO facilities. The company is providing teleport
services to channels of Zee Group, Janmat, Zoom (Times Group),
IBN 7, Hungama TV. Several regional channels like Shalom TV,
MM TV, Sangeet Bangla, Total TV and Sudarshan TV are also
using Essel Shyam's teleport. The company has recently set
up a modern facility for TV Channels from studio to the cable
distributor.
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