Cable TV
Hathway gets EGM nod for Rs 300.80 crore Capital Partners investment
MUMBAI: Multi system operator (MSO) Hathway Cable & Datacom has got shareholder approval for raising Rs 300.80 crore through preferential allotment of shares. The announcement was made after the MSO’s Extra Ordinary General Meeting held today.
The MSO through a statement on the BSE, said, ‘subject to necessary approvals and compliance with the applicable laws and regulations, the issuance of up to 94,00,000 fully paid up equity shares of face value Rs 10 each (the Equity Shares) of the company to the following funds managed by Capital Research & Management, at a price of Rs 320 per equity share, aggregating to Rs 300,80,00,000 by way of preferential allotment pursuant to Section 42 and 62 (1) ( c) and all other applicable provisions, if any of the Companies Act, 2013 and rules made thereunder (including any statutory modification) thereof for the time being in force) and other legal provision, including but not limited to chapter 7 of the Securities and Exchange Board of India (SEBI) (issue of capital and disclosure requirements) regulations, 2009, as amended.’
While Capital Partners’ Smallcap World Fund will mop up 70,50,000 shares of Hathway at a tab of Rs 225,60,00,000, American Fund Insurance Series- Global Small Capitalisation Fund will pocket 23,50,000 shares, at a cost of Rs 75,20,00,000.
It was on 7 August that Hathway had got board approval for its fund raising, which was then subject to shareholder approval. The MSO has now crossed one more hurdle towards raising the Rs 300.80 crores. Now what’s left is ensuring compliance with laws and regulations and getting the necessary regulatory approvals.
According to Media Partners Asia, the deal values Hathway at Rs 51.6 billion and will dilute the MSO’s promoter and promoter group companies (the Rahejas) holding from 47.5 per cent currently to 44.7 per cent.
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.
