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.
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.
