Cable TV
Shareholders okay Hathway to up borrowings to Rs 1600 crore
BENGALURU: Indian multi system operator (MSO) Hathway Cable and Datacom has informed the bourses that it has received shareholder approval and passed special resolutions as under:
(1) Special Resolution under Section 180(l)(c) of the Companies Act, 2013 for authorising the Board of Directors of the Company to borrow loans in excess of Paid up Capital and Free reserves of the Company subject to maximum of Rs 1600 crore.
(2) Special Resolution under Section 180(l)(a) of the Companies Act, 2013 for authorising the Board of Directors for creation of Charge / Hypothecation / Mortgage on the movable / immovable properties of the Company for securing the borrowings of the Company subject to maximum limit of Rs 1600 crore.
(3) Special Resolution under Section 186 of the Companies Act, 2013 for authorising the Board of Directors to invest or to provide loans and advances or give guarantees/ securities up to 100 per cent of free reserves and securities premium account or Rs 1,000 crore whichever is higher.
Last June, the company had obtained shareholder approval for borrowing from time to time, as it may think fit, any sum or sums of money not exceeding Rs 1400 crore in aggregate or equivalent thereto in any foreign currency to meet fund requirements for effective implementation of Digital Addressable System (DAS) and broadband capital expenditure.
The shareholders of the company in August 2013, had also given a nod to permitting the company to issue preferential equity shares aggregating Rs 109.9 crore for 38.7 lakh fully paid up equity shares to Asia Holding Investments IV (Mauritius) Limited and 14.05 lakh fully paid up equity shares aggregating at about Rs 39 crore to Hathway Investments Private Limited (which is a promoter group company) of face value of Rs 10 each at a premium of Rs 274 per share.
Hathway’s consolidated EBIDTA for FY-2014 was Rs 311.19 core and Rs 274.1 crore in FY-2013. During FY-2014, Hathway reported a standalone loss of Rs 125.25 crore and a consolidated loss of Rs.111.111 crore as compared to a standalone profit of Rs 3.2 crore and a consolidated profit of Rs 15.7 crore in FY-2013.
The company has paid Rs 92.52 crore towards finance cost in FY-2014 as compared to the Rs 46.14 crore in FY-2013.
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.
