Cable TV
Hathway Bhawani plans equity offer; mulls pay-per-view service
Hathway Bhawani Cabletel & Datacom Limited has announced that an offer of 1.6 million equity shares of Rs 10 each for cash at a price of RS 20/- per share aggregating Rs 32 million is on the anvil.
This represents 20 per cent of the present paid up equity capital of the company. The offer for sale document has been filed with market regulator Securities and Exchange Board of India for necessary clearances. An official release informs that the proposed offer for sale benefits the company and its shareholders as the company will maintain its listed status on the Bombay Stock Exchange and at the same time offer greater liquidity to the shareholders of the company.
Hathway Bhawani is a leading Multiple Service Operator (MSO) with operations in the Central and Eastern Suburbs of Mumbai covering areas of Chembur, Sion, Kurla, Ghatkopar and Dadar T.T. The company claims to be the first cable television company to be listed on the Bombay Stock Exchange. It is also the largest cable network in Central Mumbai.
Since 1999, 51 per cent of the company’s existing paid up equity capital is held by Hathway Cable & Datacom Private Limited (HCPDL), Hathway Investments Limited (HIL) and United Cable Networks Private Limited (UCNPL). The Rupert Murdoch promoted broadcaster Star TV officially holds 26 per cent of the paid up equity capital of HCDPL.
Hathway Bhawani recently invested about RS 10 million for a state-of-the-art new head-end at Chembur, Mumbai, and the laying of optic fiber cables for its cable internet business. The company’s services / businesses have been organised into three divisions: distribution, channel and ISP.
On the company’s agenda is the launch of a Pay Per View (PPV) service, where the subscribers can view movies and additional channels at their home. One of the options before the company is to launch PPV at a small incremental investment and thus offer a value-added service to the subscriber at a competitive price.
Hathway Bhawani runs two movie-based Cable Channels – BTV (Bhawani Superhit which telecasts popular Hindi Movies) and BVC (Bhawani Viewers Choice). The Company also runs a Religious Channel – BTV Upasana.
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.
