Cable TV
Ortel Communications files RHP for public issue
MUMBAI: Odisha based last mile owner (LMO) Ortel Communications has filed the Red Herring Prospectus (RHP) for a public issue.
Confirming the same to Indiantelevision.com, Ortel Communications president and CEO Bibhu Prasad Rath said, “Yes, the RHP has been filed and the issue is scheduled to open on 3 March.”
The company had filed for the Draft Red Herring Prospectus (DRHP) in September 2014.
The LMO is looking at a primary issue of 60 lakh shares and sale of another 60 lakh share by New Silk Route, which currently owns 35 per cent share in the company.
The IPO, which is being handled by Kotak Mahindra Capital, may raise close to Rs 250 crore. Ortel Communications will be utilising the funds for expansion of its network for providing video, data and telephony services. Additionally the company is also looking at developing its digital cable and broadband services with the infusion of funds.
This issue is being made through the book building process wherein at least 75 per cent of the Issue shall be allotted to qualified institutional bidders (QIBs) on a proportionate basis out of which five per cent of the QIB portion (excluding the anchor investor portion, which shall be allocated on a discretionary basis) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder shall be available for allocation on a proportionate basis to all QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.
Further, not more than 15 per cent of the issue will be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the Issue will be available for allocation to retail individual bidders, subject to valid bids being received at or above the issue price.
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.
