Cable TV
GTPL Hathway gets SEBI nod for Rs 600-cr June IPO, to repay loans, expand cable & b’band with new tech
MUMBAI: GTPL Hathway, a part of Hathway Cable and Datacom which offers cable TV and broadband services, is preparing to raise around Rs 600 crore through an initial public offer (IPO) in June.
Proceeds from the IPO will be utilised towards repayment of loan and other general corporate purpose, PTI reported.
A company statement stated that they had received capital markets’ regulator SEBI approval to float the IPO.
According to the Draft Red Herring Prospectus (DRHP), the company’s public issue comprises fresh issuance of equity shares worth Rs 300 crore and offer for sale of 1.8 crore scrips by the existing shareholders.
BNP Paribas, JM Financial Institutional Securities, Motilal Oswal Investment Advisors Pvt Ltd and Yes Securities will manage the public issue.
By 30 September last year, GTPL Hathway’s digital cable TV services reached 169 towns across India, including towns in Gujarat, Maharashtra, Bihar, West Bengal, Assam, Jharkhand, Madhya Pradesh, Telangana, Rajasthan and Andhra Pradesh.
With around 5.41 million active digital cable subscribers, the company is now preparing to expand both its cable TV and broadband services with newer technology.
The company is gradually phasing out analogue services so as to comply with the government’s policy on digitisation, which will provide it an opportunity to expand products with broadband services and additional high definition channels.
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.
