Cable TV
GTPL Hathway IPO proceeds may help increase subs base & penetration, hike stake in JVs
MUMBAI: GTPL Hathway, India’s leading cable TV distribution company reaching an estimated eight million households in 10 states, proposes to open on 21 June an initial public offering of equity shares of face value of Rs. 10 each for cash (including a share premium) comprising a fresh issue of equity shares aggregating up to Rs. 2,400 million and an offer for sale of up to 14,400,000 equity shares – comprising up to 1,136,000 equity shares by Aniruddhasinhji Jadeja, up to 440,000 equity shares by Kanaksinh Rana, up to 5,480,000 equity shares by Gujarat Digi Com Private Limited, up to 7,200,000 equity shares by Hathway Cable and Datacom Limited and up to 144,000 equity shares by Amit Shah (collectively the “selling shareholders”).
The bid will close on 23 June, 2017. The price band of the IPO has been fixed at Rs 167 to Rs 170 per share.
Speaking to Indiantelevision.com, GTPL Hathway head – investor relations Piyush Pankaj said that they planned to increase its cable television subscriber base as well as penetration into the markets. “There are joint venture (JV) companies where we are considering to increase our stake — (it is a) pipeline where we would need the board’s approval,” Pankaj said. On stake dilution, Pankaj said that it was a strategic decision by the promoters to dilute only around 25 per cent stake, and not up to 30 per cent. As stated in the official parlance, GTPL Hathway would use the proceeds for debt reduction and general corporate purposes.
The book-running lead managers to the offer are: JM Financial Institutional Securities Limited, BNP Paribas, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited.
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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.
