Cable TV
Hathway gets board approval to raise Rs 150.40 crore
MUMBAI: After getting shareholder nod to raise Rs 300.80 crore at the EGM on 5 September, Multi system operator (MSO) Hathway Cable & Datacom has now announced that its Board of Directors has approved raising of more Rs 150.40 crore through preferential allotment of shares. The announcement was made after a meeting of Board of Directors held today.
The MSO in a statement on the BSE said, ‘subject to the shareholders and other necessary approvals and compliance with applicable laws and regulations, the issuance of up to 47,00,000 fully paid-up equity shares of face value of Rs 10 each (the Equity Shares) of the Company to the following investor (as per the list mentioned below ), at a price of Rs 320 per equity share aggregating to Rs 150,40,00,000 (Rupees one hundred fifty crore forty lakh only) by way of a preferential allotment pursuant to the provisions of Section 42 and 62 (l)(c) of the Companies Act, 2013 and other applicable legal provisions, including but not limited to Chapter Vll of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.’
Hathway will be allotting 47 lakh shares to CLSA Global Market PTE pursuant to preferential allotment for Rs 150.40 crore.
The approval of the shareholders for this issuance and allotment will be sought at an extraordinary general meeting to be held in this regard later.
During the EGM held on 5 September, Hathway had got shareholders approval to raise Rs 300.40 crore. Capital Partners’ Smallcap World Fund and Global Small Capitalisation Fund bought a total of 94 lakh shares for the fund raising.
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.
