Cable TV
Siti Cable completes QIP; allots shares to QIBs
MUMBAI: Confidence, it appears is returning to select cable TV counters, the slow pace of digitization despite.
The Essel Group owned national MSO Siti Cable Network’s long-standing effort to raise funds through a qualified institutional placement (QIP) successfully closed today.
The company informed the Bombay stock exchange (BSE) late in the evening that its QIP Committee had allotted 6,31,74,540 shares on receipt of Rs 221.11 crore from a group of qualified institutional bodies (QIBs) .
The QIP issue for an aggregate amount not exceeding Rs 250 crore commenced on 27 February 2015 and closed on 4 March. The issue was made a premium of Rs 34 per Rs 1 share which was a discount of Rs 1.41 on the floor price.
The Siti Cable counter had spurted to a 52 week high of Rs 38.50 on 4 March.
Siti Cable informed the BSE that the QIBs who were allotted shares through the current QIP include: Polus Global Fund (1,44,28570 shares); Orange Investments Ltd (34,28,570 shares); HDFC Trustee Co Ltd – HDFC Equity Fund (2,65,33,000 shares) ; HDFC Trustee Co Ltd – HDFC Core and Satellite Fund (15,16,000 shares); HDFC Trustee Co Ltd – HDFC India Tax Saver Fund (35,38,270 shares); Macquarie Asian Markets Emerging (15,00,000 shares); Reliance Capital Trustee Co (42,85,710 shares); Copthall Mauritius Investments (52,96,280 shares); and Morgan Stanley Asia Pacific (26,48,140 shares).
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
