Cable TV
Hathway gets RBI approval for upping FDI limit to 74%
MUMBAI: After receiving approval from the Foreign Investment Promotion Board (FIPB) for increasing the foreign investment limit from the current 49 per cent to 74 per cent, multi system operator (MSO) Hathway Cable and Datacom has received a nod from the Reserve Bank of India (RBI) as well.
The RBI granted its approval to the MSO for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs, through primary market and stock exchanges up to 74 per cent of the paid up capital of the company under Portfolio Investment Scheme post approval of the same by FIPB.
“This would be subject to the Regulation 5(2) of FEMA Notification No.20/2000 RB dated May 03, 2000 (as amended from time to time) issued under FEMA, 1999,” the notice said.
RBI has also advised all custodian banks that since the foreign share holding by FIIs/RFPIs in Hathway have gone below the revised threshold limit stipulated under the extant FDI policy, the restrictions placed on the purchase of shares vide its letter dated 20 February, 2015 are withdrawn with immediate effect and hence equity shares of Hathway can now be purchased through primary market and stock exchanges.
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.
