Cable TV
Siti Cable completes QIP; allots shares to QIBs
MUMBAI: Confidence, it appears is returning to select cable TV counters, the slow pace of digitization despite.
The Essel Group owned national MSO Siti Cable Network’s long-standing effort to raise funds through a qualified institutional placement (QIP) successfully closed today.
The company informed the Bombay stock exchange (BSE) late in the evening that its QIP Committee had allotted 6,31,74,540 shares on receipt of Rs 221.11 crore from a group of qualified institutional bodies (QIBs) .
The QIP issue for an aggregate amount not exceeding Rs 250 crore commenced on 27 February 2015 and closed on 4 March. The issue was made a premium of Rs 34 per Rs 1 share which was a discount of Rs 1.41 on the floor price.
The Siti Cable counter had spurted to a 52 week high of Rs 38.50 on 4 March.
Siti Cable informed the BSE that the QIBs who were allotted shares through the current QIP include: Polus Global Fund (1,44,28570 shares); Orange Investments Ltd (34,28,570 shares); HDFC Trustee Co Ltd – HDFC Equity Fund (2,65,33,000 shares) ; HDFC Trustee Co Ltd – HDFC Core and Satellite Fund (15,16,000 shares); HDFC Trustee Co Ltd – HDFC India Tax Saver Fund (35,38,270 shares); Macquarie Asian Markets Emerging (15,00,000 shares); Reliance Capital Trustee Co (42,85,710 shares); Copthall Mauritius Investments (52,96,280 shares); and Morgan Stanley Asia Pacific (26,48,140 shares).
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.
