MAM
IndusInd offloads 3% stake to Swiss firm Kudelski
NEW DELHI: IndusInd Media & Communications Ltd. (IMCL), a Hinduja TMT company, has entered into an agreement with Kudelski SA, a listed company of Switzerland for issuing up to 3 per cent of its equity based on IMCL valuation of approximately $ 500 million.
While the parameters of the valuation have already been worked out and agreed to with the assistance of the Company’s advisors PriceWaterhouseCoopers (PWC) Corporate Finance group and Amas Securities, the final valuation will be arrived at on completion of due diligence, according to a statement from the company.
As earlier reported in indiantelevision.com, Nagravision SA, a wholly owned subsidiary of Kudelski, will also provide an exclusive Conditional Access solution to encrypt and secure the digital pay TV services of IMCL and render turnkey services for deployment of digital pay TV services.
Nagravision is among the world’s largest providers of secure access to pay TV services via more than 35 million decoder set top boxes worldwide, the release says. On completion of the deal, IMCL’s stakeholders will include two listed leading technology companies: Intel and Kudelski.
The majority shareholding would continue with IN Network Entertainment Ltd., and in turn Hinduja TMT Ltd.
Nagravision will supply a turnkey implementation at the heart of which will be the technology for encryption of Pay TV services (including Conditional Access System) and Smart Cards for deployment of Digital set-top boxes in India. It would integrate the CAS with the compression system/digital headend as well as SMS, billing system and all associated integration requirements.
Nagravision SA of Switzerland, the wholly owned Digital TV and broadband solutions subsidiary of the Kudelski Group, has been chosen to exclusively provide comprehensive digital pay TV technology to IMCL.This technology manages transactions and interactivity while ensuring that only subscribers who have paid for a service can gain access. Nagra’s principal customers include EchoStar in US, Telewest and NTL in UK, Premier in Germany and Hong Kong Cable Television in Asia/Pacific.
Through IMCL, HTMT has incubated in India an organization that has rapidly grown in the past 8 years to become India’s largest independent multi system operator (MSO).
MAM
Filmcity Media CFO Mohit Jain quits; CEO Kirti Vishnu Tiwari takes charge of finance
Board appoints Prabhat Modi as additional director and approves Rs 1.9 crore preferential share issue
MUMBAI: Filmcity Media has reshuffled its top deck. Chief financial officer Mohit Jain has stepped down, prompting the board to hand the finance reins to chief executive Kirti Vishnu Tiwari even as the company lines up fresh capital and new boardroom muscle.
In a regulatory filing to the BSE, Filmcity Media said Jain resigned from the roles of director and chief financial officer with effect from March 11, 2026, to pursue another career opportunity. He ceased to be a key managerial personnel of the company at the close of business on that date.
The board swiftly moved to plug the gap, appointing Kirti Vishnu Tiwari as chief financial officer from March 12, 2026. Tiwari, who already serves as executive director and chief executive, will now hold the combined role of executive director, CEO and CFO, taking charge of the company’s finance function while continuing to lead operations.
The leadership changes were approved by the board following recommendations from the nomination and remuneration committee, with the audit committee also backing Tiwari’s appointment as CFO to ensure governance oversight. Under the arrangement, Tiwari will continue as a key managerial personnel under Section 203 of the Companies Act, 2013.
Filmcity Media also expanded its board, appointing Prabhat Modi as additional director with effect from March 13, 2026, for a term of five years. The appointment, categorised as a non-executive non-independent directorship, will require shareholder approval at the next general meeting.
Modi brings capital market experience to the role. He holds a B.Sc in accounting and finance from the University of Essex in the United Kingdom and a PGDM from the National Institute of Securities Market. His professional experience includes stints at SBI Mutual Fund, BSE India and Morningstar India, where he worked on market research, financial analysis and capital market operations.
Tiwari, meanwhile, brings experience spanning finance, marketing and hospitality. A graduate of Lucknow University, she has previously worked with Hotel Holiday Inn, Hotel Leela Kempenski and Hotel Sea Rock, along with roles at Pawan Hans Helicopter and CBRE South Asia.
Separately, the board also approved a preferential issue of equity shares to members of the promoter and promoter group as well as non-promoter investors. The proposed fundraising, subject to regulatory approvals, is expected to raise up to Rs 1.9 crore.
The company said both appointees meet all regulatory requirements under SEBI regulations and the Companies Act and are not barred by any regulatory authority from holding their positions.
With a new board face, a CEO doubling as CFO and fresh capital on the table, Filmcity Media appears to be tightening its leadership and balance sheet in one swift move.
