Cable TV
Siti Cable promoters pump in Rs 102.75 crore
MUMBAI: India’s leading multi system operator (MSO) Siti Cable today announced to the Bombay Stock Exchange (BSE) that it had received an injection of Rs 102.75 crore from its promoters. This is the second tranche after the Rs 81 crore its promoters had pumped in March 2013.
The announcement to the BSE states that “as per the terms of the 16.2 crore warrants issued on 19 March 2013 on preferential basis the allotment committee of the board of directors has upon receipt of the balance of 75 per cent consideration aggregating to Rs 102.75 crore approved allotment of 6.85 crore equity shares upon conversion of equal number of warrants at an issue price of Rs 20 per share to the allottees – Essel Media Ventures and Essel International.”
Sources within Siti Cable point out that the promoters led by Zee and Essel group chairman Subhash Chandra is extremely bullish on the MSO’s prospects post completion of cable TV digitisation nationally.
The company’s CFO Sanjay Goyal confirms to indiantelevision.com that “the company had received clearances in March 2013 to bring in Rs 324 crore from the promoters in four tranches. As part of that Rs 81 crore flowed in that month itself. Though the promoter group had until September 2014 to bring in the rest, they plan on infusing the remainder of the money before 31 March 2014 to speed up the digitisation push.”
The company’s CEO VD Wadhwa had in an interview to indiantelevision.com in January 2014 said that “Phases III and IV of digitisation has a total universe of about 90 million. Of these, we are targeting 6 to 7 million homes. At a gross level, we will require an investment of Rs 1200 crore. On a net basis, we are expecting an investment to the tune of Rs 600 crore. The funding of Phase III will be largely done through warrants’ funding of Rs 243 crore, which is likely to be invested by promoters before March 2014. Balance funding requirement will be met through internal accruals and raising of further equity, as may be required.”
In September 2012, when the company had announced that it was raising Rs 324 crore via warrants to promoter firms, it was reported that after completion of the entire exercise, he total promoter shareholding will rise to 73.08 per cent from 63.43 per cent and that of the public will drop to 26.92 per cent from 36.57 per cent.
Also read:
Siti Cable gets Rs 810 mn first tranche from promoters
WWIL to raise Rs 3.24 bn via warrants to promoter firms
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.
