Cable TV

Nxtdigital board approves transfer of digital, media & communication biz to HGSL

The board also approved the share exchange ratio for the proposed transfer.

https://indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2022/02/18/nxr.jpg?itok=dlCedzCL

Mumbai: Nxtdigital (NDL) board of directors has approved the proposed scheme of arrangement between NDL and Hinduja Global Solutions Ltd (HGSL) and their respective shareholders for the demerger of the digital, media and communications business undertaking of NDL into HGSL on a going concern basis.

The board also approved the share exchange ratio for the proposed transfer. The ratio was approved based on the comprehensive valuation exercise carried out and recommended by two independent valuers – KPMG Valuation Services LLP and SSPA & Co Chartered Accountants. As per the valuation, each shareholder of NDL holding 63 equity shares will receive 20 fully paid equity shares (post bonus) of the face value of Rs 10 per share of HGSL.  

These new share allotments in HGSL will be over and above the existing shares of NDL held by the shareholders, thus retaining their existing shareholding in NDL.

“The media and entertainment industry is going through a digital transformation on the back of emerging technologies,” said Nxtdigital managing director and CEO Vynsley Fernandes. “The proposed transfer, once completed, will fuel our expansion plans in the digital space, as we look to harness analytics and automation to grow our digital portfolio across video, broadband, OTT, WiFi and other services.”

“NDL shall pursue other high growth-oriented business opportunities in a restructured manner including rebranding, renaming in consonance with potential M&A proposals,” said the statement.

The proposed scheme is subject to all shareholder and regulatory approvals and the approval of the National Company Law Tribunal (NCLT).

Latest Reads

https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/06/10/anirudhsinh_jadeja.jpg?itok=e0VCxqsY
GTPL Hathway reappoints Anirudhsinh Jadeja as a MD for three years

GTPL Hathway has reappointed Anirudhsinh Jadeja as managing director for three years, at its 16th annual general meeting held on Friday.

Cable TV People
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/06/06/ranjan-gupta.jpg?itok=qJ0PE9AA
FY 2022-23 will be a transformational year for the company: Hathway Cable & Datacom MD Rajan Gupta

On building a profitable business, Hathway Cable and Datacom managing director Rajan Gupta stated that he believes FY 2022–23 will be a transformational year for the company.

Cable TV Local Cable Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/05/18/nxtdigital.png?itok=TYkKADja
Nxtdigital records revenue of Rs 1152.19 crore for FY22

Nxtdigital Ltd on Wednesday announced the results for financial year 2022. The media and communications company recorded revenue of Rs 1,152.19 crore for the year ending 31 March, registering a growth of 14.3 per cent year-on-year.

Cable TV Multi System Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/05/02/mib-800.jpg?itok=GTi_Cgo0
MIB cancels three MSO licenses in April

Mumbai: The ministry of information and broadcasting (MIB) reported that there are 1761 registered multi-system operators (MSOs) as of 30 April compared to 1763 registered MSOs on 22 March. The ministry granted one new license, cancelled three licenses and rejected two applications for license in...

Cable TV Multi System Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/17/gtpl-hathway.jpg?itok=XvCu0d07
GTPL Hathway to maintain FY22 revenue and EBIDTA growth in FY23

GTPL Hathway saw 12 per cent growth in revenues at Rs 24,154 million and four per cent increase in EBITDA (earnings before interest, tax, depreciation and amortisation) to Rs 5,677 million year-on-year in FY22. The company expects to maintain this growth rate for the current financial year i.e.,...

Cable TV Local Cable Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/16/hathway.jpg?itok=aXXLaUJl
Hathway Cable and Datacom reports revenue of Rs 1,793 crore in FY22

Mumbai: Hathway Cable and Datacom Ltd reported gross revenue of Rs 1,793 crore in FY22 an increase of four per cent over FY21. Its broadband revenue stood at Rs 621.9 crore while CATV revenue stood at Rs 1171.1 crore for the financial year. The company reported profit after tax of Rs 130.4 crore a...

Cable TV Local Cable Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/14/den.jpg?itok=ZJk_aJBe
Den Networks reports revenue of Rs 1,226 crore for FY’22

Cable TV distribution company Den Networks has released its financial results for the fourth quarter 2022 on Thursday.

Cable TV Multi System Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/04/09/img_09042022_132334_800_x_800_pixel.jpg?itok=vE3YIuon
GTPL Hathway closes FY22 as largest MSO; revenue at Rs 24,154 million

Mumbai: GTPL Hathway witnessed revenue growth (excluding EPC) of 12 per cent year-on-year (YoY) at Rs 24,154 million. The profit after tax grew by six per cent YoY at Rs 2,006 million, according to the company's financial results for the year FY22 shared on Friday.  It ended the year by adding 400K...

Cable TV Local Cable Operators
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/03/25/gtpl22.jpg?itok=ySjBkAi3
GTPL Hathway ropes in Verimatrix for secure Android TV rollout

Mumbai: Digital cable TV and broadband service provider GTPL Hathway Ltd (GTPL) has announced its partnership with Verimatrix leveraging the latter’s Video Content Authority System (VCAS) to protect its Google Android TV-based DVB hybrid set top box. Verimatrix (Euronext Paris: VMX) helps power the...

Cable TV Multi System Operators