Cable TV
MSO InCableNet gets Rs 300 crore cash infusion
MUMBAI: The folks at the Hinduja group-owned cable TV MSO InCableNet and InDigital must be a happy bunch. The reason: Grant Investrade Limited (GIL), a wholly owned subsidiary of Hinduja Ventures, has decided to invest Rs 300 crore in the cable distribution business managed by InCableNet and InDigital in India.
The capital infusion, according to a press note released by the company, is happening to take advantage of opportunities government mandated digitisation of cable TV.
“Phase I and phase II of the Digital Addressable System (DAS) have already been completed and several consolidation opportunities are coming up. The capital will be used to expand the digital base of IMCL and to improve customer services,” said the release.
Hinduja Ventures director Ashok Mansukhani when contacted said, “The purpose of promoter infusion through GIL is to help IMCL stabilise phase I and II which has completed set top box installations. It is up to IMCL management to also grow in new geographies for phase III and IV which are due to be digitalised by 31 December, 2014 either organically or inorganically.”
The investment has come in at a time when there is a lot of buzz on whether the MSO is in the running to acquire or partner the Kolkata-based MSO Manthan Broadband. Unwilling to confirm or deny anything Mansukhani said, “There are of course plans to expand our geographical presence. Kolkata is an interesting city to venture into, but nothing as of now has materialised.”
He further added, “We already have 22 joint ventures and would obviously like to expand. These things keep happening in the cable TV business.”
The infusion of cash couldn’t have been more timely. Industry observers have been watching closely waiting for the MSO to get active.
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.
