Cable TV
Nxtdigital’s rights issue subscribed by 194 %, receives Rs 560.13 cr
New Delhi: Nxtdigital has announced that the company’s rights issue of equity shares of two shares for every five shares held in the company (aggregating a total of 96,20,463 shares) which closed on 29 November was subscribed 1.94 times.
The company has reported receiving a total of Rs. 560.13 crores or 194 per cent of the Rights Issue size of Rs. 288.61 crores. This is a clear statement of confidence in the company demonstrated by the shareholders and vindicates the vision of the media group in continuing to transform to an end-to-end digital solutions platform, the company said on Wednesday.
“The Rights Issue was another positive step taken by the company towards our stated objective of reducing our overall debt,” said Nxtdigital MD and CEO Vynsley Fernandes. “With this, the debt-to-equity ratio is expected to significantly come down to approximately 1.5 times vis-à-vis the pre-issue debt-to-equity ratio of over four times. This is, without doubt, a robust position from which to continue on our path of digital transformation”.
The company has also been taking steps to liquidate non-core assets and pare its debt thereby.
According to Nxtdigital’s whole-time director and CFO Amar Chintopanth, the company has already received 25 per cent of the total consideration of Rs 69.30 crores in line with its objectives of paring debt, against the sale of land at Hyderabad. “Considering that the conditions precedent for the sale have been completed within the agreed timelines the company expects the transaction to close before the end of the financial year and the entire proceeds to be realised. Such proceeds would also be utilised towards reducing of the company’s debt”.
The integrated digital platforms company had recently launched its innovative concept of owned-and-operated NXTHUBs across the country – which besides video and broadband, promise to be future-ready to offer customers a slew of additional digital services including OTT and WiFi.
The company is also working to operationalise the infrastructure sharing model with other Multi-System Operators (MSOs) on HITS. The model is set to help MSOs not just reduce cost and improve their quality of service, but also facilitate their expansion into markets, especially rural, where connectivity costs are a deterrent to digital proliferation, it added further.
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.
