Cable TV
Buoyed by performance, Siti Cable gets fresh promoter funding of Rs 530 crore
NEW DELHI: Encouraged by the significant improvement in performance in Q3-FY16 when the company achieved financial turn-around for the first time by reporting Profit Before Tax of Rs 56 crore, the promoters of Siti Cable Network Limited have infused fresh funding amounting to Rs 530 crore.
This forms the first tranche of the previously announced Rs 680 crore funding.
As part of this Rs 530 crore capitalisation, Siti Cable board has allotted Rs 8.57 crore equity shares to promoter group entities. With this, the total promoter holdings in Siti Cable has now increased to ~69.8 per cent.
In addition, Rs 5.71 crore warrants and Rs 5.1 crore optionally fully convertible debentures (OFCD) were also issued to promoter group companies. This funding was recently approved at the company’s Extra-Ordinary General Meeting held in Mumbai on 4 February, 2016. These funds will be utilised primarily to reduce debt.
Siti Cable currently has 12 million subscriber base, out of which 7.8 million are digital customers. Despite deferment of digitisation in various states, during the current quarter, the company has added one million digital customers.
Speaking about this fresh fund infusion by promoter group entities, Siti Cable executive director and CEO V D Wadhwa said, “Promoter fund infusion of Rs 530 crore re-affirms Siti Cable’s growth story and our commitment to create sustainable value for all stake-holders. Continuous focus on operational excellence has led to Siti Cable achieving a financial turn-around in Q3FY16 for the first time in the history of the company.”
“During the current unstable economic environment, this is a significant development in the industry wherein other players are looking to further divest their equity in the market, Siti Cable’s promoters have shown greater faith in the business and its growth potential by infusing funds at a premium to the current market price,” he added.
“We believe that the Indian television distribution industry is at the cusp of an important phase, where customer needs and demands will guide overall growth. At Siti Cable, we have already been taking huge strides to offer great value to customers and this fresh funding will go a long way in ensuring the same,” Wadhwa concluded.
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
