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Category: Cable TV

  • Important to have a product portfolio that can stand the next decade of digital growth: NxtDigital CEO

    Important to have a product portfolio that can stand the next decade of digital growth: NxtDigital CEO

    Mumbai: NxtDigital has upskilled 30-35 per cent of its workforce in digital technology, in addition to making a complete shift to the pre-paid model through enabling digital payment mechanisms, said MD and CEO Vynsley Fernandes as he talked about the company’s transformation from a cable company into a digital platforms company.

    Fernandes was in a fireside chat with Indiantelevision.com group founder CEO and editor-in-chief Anil Wanvari at the 18th edition of Video & Broadband Summit (VBS 2022) organised by Indiantelevision.com on Wednesday.

    Pandemic as the trigger point

    The digital metamorphosis of NxtDigital, as well as the ecosystem as a whole, started a couple of years back in 2019 when the new tariff regime (NTO) was introduced, but it was the pandemic that actually gave impetus to it. “One of the biggest learnings from the pandemic was that digital aspirations are not limited to the city dweller. The tier 2, 3, and 4 towns, even though poorly connected to both TV and broadband, are equally aspirational. At least 60 per cent of our base comes from the semi-urban, semi-rural and rural markets, and yet there’s still significant growth that has to be achieved,” said Fernandes.

    Realising the importance of supporting these markets, the company set up digital Nxthubs at locations across India to deliver digital TV with up to 650 channels, broadband, and OTT.

    Also read : NxtDigital launches 40 NxtHubs across India

    The pandemic also forced the traditional distribution platforms that were facing challenges due to changing consumer preferences, to look at new strategies for growth, and new technology for fresh, and innovative products. This, combined with the realisation that customers increasingly want a single window to manage their multiple products and solutions, led NxtDigital to launch three new offerings including an advanced android set-top box, TV stick, and a combo product providing access to around 700 TV channels, OTT content (including regional) and broadband with speeds up to 1000 Mbps. The company had also introduced a work-from-home bundle during the pandemic.

    “We have been extremely cognisant of the fact that times are changing, and we need to be at the forefront to be able to harness technology to deliver the best experience to customers,” said Fernandes.

    Also read : Nxtdigital launches ‘live’ TV stick and Android STB

    Working with broadcasters and LMO/digital service partners

    Transformation is never an easy process. Like any other change that is met with resistance in the beginning, it took some effort for NxtDigital to convince and train its digital service partners, also the Last Mile Owners (LMOs), to support the implementation of the fully digital payments enabled, pre-paid model.

    And the results have been quite positive. “While individual verticals may have seen some softening, the absolute growth in terms of revenue for the LMOs saw an uptick because of the increased ticket size allowed by the combo product (Broadband + OTT+ Digital TV). Our partners are now, in fact, excited to know about the next digital service they can offer customers,” shared Fernandes.

    As far as broadcaster partners are concerned, he added that even though they have largely been supportive, there’s the need at the top of the pyramid for more patience and the understanding that the industry is still in a state of flux. It will take some time for the metrics to be worked out, and for the results to start manifesting as significant gains. 

    “Though we can’t yet call it significant, there has been steady growth in the business quarter-on-quarter, and this not necessarily from just the video business, but also broadband and OTT. The overall pie has definitely grown, and the stakes are only getting better from here as long as collaborations and innovation come into play,” asserted Fernandes. 

    Also read: I&B ministry lays down guidelines for infrastructure sharing by MSOs

    Appreciating the government’s new guidelines for infrastructure sharing, he remarked, “A DPO can no longer say that it cannot service a client/region because of the high cost of connectivity. As we see a lot more infra sharing happening, broadcasters will also be a beneficiary to that growth.”

    Word of Caution

    As a word of caution, Fernandes pointed out four themes that players need to align themselves with to thrive in the digital future.

    Commenting on the fate of cable and broadband he noted, “Cable will continue to grow, more so with I&B Ministry’s infrastructure sharing guidelines for MSOs announced last December.  However, there will be significant growth in broadband. This has also been indicated by Trai’s recommendation on AGR (adjusted gross revenue) that will encourage cable operators to provide broadband services. The one thing that’s clear is that the government is looking at facilitating the growth of the industry.”

    Fernandes’ third observation was that broadband over satellite and regionalised OTT will start to make inroads over the next couple of years. Lastly, the characteristics of the business will impact single product companies. In the ‘and’ world that awaits, cable or broadband or OTT alone will find it difficult to survive. The future will belong to those who are able to leverage technology to combine them externally and internally into a robust product.

    Fernandes believes that NxtDigital’s product portfolio comprising broadband, HITS, digital cable television, content syndication, and teleshopping will stand the company in good stead. He surmised by saying that “It is necessary to have a product portfolio that can stand the next decade of digital growth.”

    The day-long virtual summit held on 19 January was co-powered by broadpeak. Disney Star was the presenting partner, while NxtDigital was the summit partner.

  • Hathway Cable reports gross revenues of Rs 455 cr for Q3 FY22

    Hathway Cable reports gross revenues of Rs 455 cr for Q3 FY22

    Mumbai: Hathway Cable and Datacom Ltd posted its third-quarter financial results for FY 2022. The company reported its gross revenue at Rs 455 crore an improvement of three per cent year-on-year.

    The company saw broadband revenue of Rs 154.9 crore and cable TV (CATV) revenue of Rs 300.1 crore. It posted EBITDA of Rs 122.7 crore and EBITDA margin at 27 per cent.

    CATV business

    In the last two years, the company has created an extensive incremental infrastructure for market share gain with focus on Southern and Eastern states. “We have connected over 250 new locations with IP links and added 3,000 KMs of fiber network,” it said in a statement.

    The company has piloted a new generation of HD set-top boxes that allow the casting of OTT apps. Hathway Cable TV customers can now access OTT content without any need to buy an additional box. It also piloted a TV plug using which it can provide reliable last mile cable TV connectivity from a mobile tower network. The company has a presence in more than 109 cities and major towns with 5.5 million STBs deployed and 46,000 kms of the fiber cable network.

    ISP business

    The company saw strong FTTH customers acquisition during Q3 FY 22 with net additions of 24,000 FTTH customers. FTTH consumers now account for up to 65 per cent of overall ISP consumers and 70 per cent of ISP revenue.

    The company has 1.08 million broadband subscribers and sees an average consumption of 223 Gb. It has completed next-generation Docsis upgradation in all cities resulting in 70 per cent decline in Docsis speed complaints and 64 per cent of Docsis consumers have been upgraded to 100 mbps speed plans. The company has 76 per cent redundancy in FTTH PON ports up to the splitter level achieved as of December 2021. It saw an average of a single complaint per year per consumer regarding any FTTH service issue. FTTH capacity has been augmented to accommodate 1.2 lakh consumers.

  • Nxtdigital board gives in-principle nod for digital, media biz to be acquired by Hinduja Global Solutions

    Nxtdigital board gives in-principle nod for digital, media biz to be acquired by Hinduja Global Solutions

    Mumbai: Nxtdigital Board on Friday accorded in-principle approval for its digital and media businesses comprising broadband, HITS, digital cable television, content syndication & teleshopping to be acquired by Hinduja Global Solutions Limited (HGSL).

    The proposed acquisition is subject to all statutory or regulatory approvals and approval of the shareholders.

    The move is set to fuel and accelerate Nxtdigital Ltd (NDL)’s planned expansion across the digital ecosystem through synergies with HGS’ strength in digital processing and back-end expertise. “NDL will focus on harnessing the best of emerging technologies, whilst expanding its portfolio of digital solutions across geographies,” it said in a statement on Friday.

    The proposed acquisition will include the management team, employees, all businesses and technology across the entire media, communications and broadband spectrum.

    According to the details available, the proposed acquisition will result in shareholders of NDL receiving shares of HGS as per an independent share swap valuation, subject to applicable regulatory approvals.

    The media vertical of the global Hinduja group, Nxtdigital has launched some innovative solutions in the recent past and planned significant expansion in the emerging digital solutions space. “This move will provide much needed synergies, by leveraging the inherent expertise of HGS in the digital back-office and processes space, while allowing the media business to focus on digital expansion. This is also in line with NDL’s vision and mission of being a significant digital platforms company, harnessing the best of emerging technologies, whilst expanding its portfolio of digital solutions across geographies,” it said in a statement.

    The company said it will appoint independent valuers to carry out the valuation exercise and submit the report including share exchange ratio; besides also appointing other key intermediaries to facilitate the proposed move.

  • GTPL Hathway reports consolidated revenues of Rs 6130 million for Q3 FY22

    GTPL Hathway reports consolidated revenues of Rs 6130 million for Q3 FY22

    Mumbai: GTPL Hathway has announced the financial results for the third quarter and nine months ended on 31 December 2021, as approved by its board of directors.

    The company’s consolidated Q3 FY22 revenue (incl EPC) stood at Rs 6130 million. Its consolidated 9M FY22 revenue (incl EPC) stood at Rs 18,288 million up by five per cent year-on-year.

    The ISP revenue of the company stood at Rs 1054 million up by 35 per cent year-on-year and 9M FY22 IPS revenue stood at Rs 2978 up by 51 per cent year-on-year. The CATV subscription revenues for the company stood at Rs 2702 million.

    The company’s EBIDTA (incl. EPC) stood at Rs 1473 million and ex-EPC stood at Rs 1472 million. Its profit after tax (PAT) stood at Rs 546 million up by 21 per cent year-on-year.

    The company’s 9M FY22 EBIDTA (incl. EPC) stood at Rs 4301 million up by 3 per cent year-on-year and 9M FY22 EBIDTA (ex-EPC) stood at Rs 4277 million up by six per cent year-on-year. Its 9M FY22 PAT stood at Rs 1454 million up by 11 per cent year-on-year.

    At the end of nine months, the company added 5,30,000 home-pass customers and 1,30,000 net broadband subscribers.

    The company reported 7.5 million paying subscribers at the end of 31 December 2022 out of which 4.40 million were home-pass customers, 7,65,000 were total broadband subscribers out of which 2,90,000 are FTTX subscribers. The company’s broadband average revenue per user (ARPU) stood at Rs 445 at the end of December.

    “The highlight of 9M FY22 performance was CATV business expansion in new states coupled with robust subscriber additions and subscription revenues for broadband business,” said GTPL Hathway managing director Anirudhsingh Jadeja. “On the broadband side, the company is expanding in Gujarat and is penetrating in other states through business partners. GTPL Hathway added 1,30,000 net broadband subscribers in 9M FY22. The company adheres to follow its strategic roadmap by offering a value proposition to its esteemed consumers and constantly enrich their experience.”

  • GTPL Hathway announces partnership with Aprecomm

    GTPL Hathway announces partnership with Aprecomm

    Mumbai: Cable TV distribution and broadband service provider GTPL Hathway Ltd on Monday announced the investment in innovative technology to remotely optimise its residential Wi-Fi connections through a partnership with Aprecomm.

    The technology will help GTPL bring down the customer issue resolution time and enhance customer experience on its network of 700K+ connected broadband households. Aprecomm’s AI engine allows GTPL to convert its household connections to AI-enabled smart Wi-Fi access points. Additionally, the technology offers proactive monitoring and measuring of the wireless experience of the connected devices and provides real-time insights to improve the reliability and performance of the network, said the statement.

    “GTPL believes in continuous investments in technology to keep innovating and enhance the consumers’ delight,” said GTPL Hathway managing director Anirudhsinh Jadeja. “The partnership with Aprecomm will aid us in our efforts to ensure the best experience for our broadband consumers with a faster and proactive resolution of potential issues.”

    “We are delighted to collaborate with GTPL and bring the latest technology into their network which can assist them with up to 50 per cent reduction in customer support handling time and phenomenal improvement to the customer experience,” said Aprecomm CEO Pramod Gummaraj. “We are looking forward to bringing more innovation in the Network Automation in the coming months.”

    The measurable improvements offered by the integration between GTPL and Aprecomm also lead to lower maintenance costs and improved customer satisfaction for the internet service provider.

    “With Aprecomm’s vendor-agnostic technology, GTPL is now able to manage and monitor ONUs through a unified interface, ensuring assured internet experience to their customers,” said Aprecomm CTO Guharajan Sivakumar.

    “We have already started deploying this technology and could measure the customer experience with ease and take proactive actions to improve it,” stated GTPL Hathway CTO Prasad V. “Aprecomm’s technology immensely helps us to achieve network automation.”

  • Yogesh Sharma takes over as Siti Networks CEO

    Yogesh Sharma takes over as Siti Networks CEO

    Mumbai: Siti Networks Ltd, an Essel Group company has appointed Yogesh Sharma as chief executive officer from 1 January.

    Sharma joined Siti Networks as vice president in 2018 and became the chief operating officer in 2019. He has been instrumental in introducing innovative ideas, implementing new processes and competitive strategies to achieve market leadership, said the company in a statement. He has led tactical initiatives and best practices to streamline the operational framework by setting up a robust system at the company, it added.

    “It is an honor to lead Siti Networks. We will be working to enhance our ground connect and introduce new business models focused on leveraging our distribution strength and offering innovative products for our customers,” said Yogesh Sharma on his new role.    

    Sharma, with over 28 years of rich experience, has a proven record of driving operational excellence across organisations. He has dynamic leadership capabilities in business expansion through strategic initiatives, transformational leadership, strengthening operational capabilities, project controls, and implementing best practices. He has extensive experience with national MSOs like DEN Networks, Hathway Cable, and IMCL-Indusind Media and Communication.

    Sharma is a mechanical engineer from Pune University and has attended the prestigious INSEAD leadership programme for senior executives (ILPSE) from INSEAD, Fontainebleau, France.

  • Do Smart TVs Have Security Risks?

    Do Smart TVs Have Security Risks?

    The craze for Smart TVs at homes is through the roof. With the given benefits of watching different shows to browsing Internet on TV, smart TVs are probably on people’s appliances list to buy in the coming years.  

    However, the advent of technology has a dark side apart from user-friendliness and ease of access. With the number of smart gadgets, you have at home, the risks keep multiplying likewise. Similarly, smart TVs also pose major security risks that are sometimes unaware of for the users. 

    Let’s focus on such security risks in this guide and look at ways to overcome them. Read on for more!

    Security Risks Involved With Smart TVs

    Traditional TV sets might sound a big inconvenience to many right now. However, smart TVs come with the concept of “many eyes watching you”. You are no longer under the blanket of privacy or security when it comes to smart TV usage. 

    Let’s have a quick look at ways in which smart TVs pose security risks:

    1. Hacking

    Hacking is now a style statement in the digital era. Any smart device is within reach of hackers and smart TVs are no exception. If your TV has a webcam or microphone, you are no longer having private conversations. Also, hackers mainly target your settings in the application installed on your TV. 

    If your TV is connected to other smart gadgets at home like home security systems, all of these applications are at risk. All the online account information for apps is readily available to hackers. 

    Hackers need a small opening only. Later, the whole system appears compromised. 

    2. Data For Sale

    The threats of your data up for sale from smartphones are present in your smart TVs too. 

    As per the information on security risks, organizations like Vizio were found selling data on what their customers watched frequently to various advertisers. This way, you start getting anonymous phone calls regarding “special offers” that might surprise you. 

    Whatever you thought was unimportant might be worth millions to the right advertisers! 

    3. Malware

    Reports are rife that smart TVs are susceptible to malware or virus attacks. The sole intention of hackers is to gather information about your credit card details that you had used to pay for apps on your TV. Also, another possibility is to freeze your accounts and demand a ransom to free up the usage of your TV. 

    Most of the TVs do not support the use of anti-virus software. However, you see all these attacks happening in the devices regardless of the use of such software. 

    All these sound bizarre, but you can find many instances all over the internet of people becoming victims in this smart TV world. 

    4. Substandard Configuration

    Most of the TV manufacturers forget the security configuration updates in the race against their competitors. Moreover, consumers also play a huge role in having poor configuration/settings in their home smart TVs. 

    Cyberattacks are around the corner when the manufacturer changes the operating system to save a few bucks on their production cost. 

    Also, the users might care less about these points when it comes to settings:

    ● Utilizing insecure protocols
    ● Weak passwords
    ● Trying debugging mechanisms
    ● Enable unused/not needed services
    ● Not checking the authenticity while using some apps
    ● Ports remain open

    Passwords play a crucial role in keeping your smart TV secure. Sometimes, people stick with the default or easy-to-crack passwords for long without thinking about the risks. 

     5. Outdated Software

    The digital world is bringing updates regularly. If the manufacturers do not attempt to update their software and firmware in line with the world’s challenges, your smart TV is more susceptible to attacks. 

    Your new TV suddenly looks outdated within two years. Sometimes, smart TVs are manufactured with no options to have regular updates in software that might give more protection against data stealing and hackers. 

    6. Physical Attacks

    Smart TVs may have ports through which external programs can run on your TV. Usually, strangers can gain access to your data or run a malicious program through devices that resemble a USB stick. 

    Smart gadgets are prone to accept such attacks without any level of security when external devices are plugged in. 
    How To Prevent Security Risks On Smart TVs?

    All these problems may sound alarming to smart TV customers. However, with simple tips and tricks, you can strengthen the security system on your TV to a great extent. 

    Let’s look at ways to prevent or safeguard your smart TVs from security problems:

    Improvise Your Password Hub

    Your smart TV has access to many streaming platform accounts. Also, each of them has a password to enter into your personal account. Try to vary your password between these platforms. Else, hackers wouldn’t find it difficult to hack all your accounts with a similar password. 

    Moreover, use unique and complex passwords. It is easy to store these passwords with a digital locker that you are comfortable with. 

    Regularly Update Your Software and OS

    It is best to visit your settings page once every month to understand if there is an OS update available. Go for it immediately since it might have many bug fixes and enhanced security features in place. 

    Go For Low-Tech

    A built-in webcam or microphone may sound a sweet deal while going for smart TVs. However, the higher the tech, the higher the security risks. Hence, try going for TVs with no built-in snooping extras. 

    Restrict Internet Connectivity

    Many may not accept this option as the TV’s main purpose of being smart is taken away. However, lesser exposure to the internet saves your TV from any cybercrime attacks from hackers. 

    Get To Know Your TV’s Settings

    Most of the consumers are not aware of the security your TV can provide. Hence, go through the entire settings section to strengthen your smart TV’s ability against security risks.

    Use A Secure Router

    The Internet connectivity comes from a router. Thus, you can make your TV secure by opting for all safety measures needed when setting up one. Go for strong passwords and encryption. Also, apply other measures that your router can offer in terms of security. 

    Final Thoughts

    Smart TVs have made the entertainment watching in our homes more active. Although, the whole experience comes with a load of security risks that threaten the existence of our daily life. Hence, with simple measures, we can stay clear of these cyber-attacks. 

    Strengthen your TV’s settings, restrict internet usage and go for low-tech TVs to have a better hand at managing the risks involved. 

  • Nxtdigital’s rights issue subscribed by 194 %, receives Rs 560.13 cr

    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.

  • Free Dish grows by 11 per cent across rural, urban households: Chrome DM

    Free Dish grows by 11 per cent across rural, urban households: Chrome DM

    Mumbai: Chrome Data Analytics & Media has announced the results for its bi-annual subscriber establishment survey (SES) and released a November report based on a Pan India ground survey conducted between April to June, 2021.

    The periodic study was conducted by Chrome DM to understand the changing landscape of the TV universe, and represents 209.3 million TV households in the country across a sample taking one out of every 175 households. The results capped off a substantial jump in Cable and Satellite (C&S) homes by 7.3 per cent, where the subscriber base has seen a jump from 167.9 to 180.1 million households.

    As per the SES November 2021 report, there has been a sizable growth in Free- Dish by a giant margin of 11.1 per cent where it maintains a northward climb in both rural and urban India. Pay DTH also saw a prominent jump by reaching a net total growth of 8.5 per cent while the same results also showed a progressive rise in digital cable by 4.1 per cent.

    The survey also illustrates the downward decline of the almost extinct analog cable by a remarkable margin of 80.9 per cent. While over 27,755 households retained the analog subscriptions back in December 2020, the number has dropped to just over 5306 households in the month of June 2021.

    Chrome DM founder and CEO Pankaj Krishna said, “OTT is here and TV continues to rule with over 200 million plus base in India.  I am glad to see an upswing in the overall cable & satellite subscriber numbers which have grown from ~167 million in December 2020 to ~180 million now.”

    SES is mainly used by broadcasters to optimise distribution revenues by way of identifying cable network footprints, outline promotions and generate media hype, audit threshold subscription numbers based on Operator’s CAS report and minimise Carriage fee spends – Chrome Distribution Investments Index.

    Chrome SES November 2021 report also offers data and analytics that provide ranging insights which go beyond the broadcast industry. These audits can be used to understand the forthcoming market trends while allowing various media planners and associated advertisers to gather deep insights into the changing fluctuations, viewer distribution and the ever-evolving mood of the subscribers.

  • Nxtdigital clocks 15.48% revenue growth in H1

    Nxtdigital clocks 15.48% revenue growth in H1

    New Delhi: Integrated digital platforms company Nxtdigital, the media vertical of the Hinduja Group has reported a 15.48 per cent growth in its consolidated revenues for the half year ending 30 September. The revenue reached Rs 543.42 crore, up from Rs 470.58 crores for the corresponding period of the previous year.

    The company with a presence in digital cable, satellite (Hits), broadband and content syndication announced its results for the quarter and half year ending 30 September on Thursday.

    Nxtdigital continued to maintain a robust EBIDTA at Rs 102.89 crore for the half year, and ended the second quarter with a 17.38 per cent year-on-year revenue growth, closing at Rs 276.83 crore against Rs 235.76 crore in Q2 of the previous fiscal. It maintained a robust EBIDTA at Rs 51.63 crore.

    The company attributed its revenue growth to its strategy and aggressive growth plans, with a clear focus on positive cashflows across business verticals.

    The broadband business segment crossed 7.2 lakh subscribers. Nxtdigital also launched 40 future-ready Nxthubs across the country – each with digital capability of providing video, broadband and other emerging solutions including OTT and WiFi to distribute up to 650 digital TV channels received via satellite.

    Even whilst the pandemic continued to have a bearing on the media and entertainment industry, Nxtdigital’s business verticals continued to grow. Buoyed by the demand for internet connectivity across retail customers and enterprise businesses, the broadband business vide its subsidiary OneOTT Intertainment crossed 7.2 lakh subscribers, clocking a growth rate of 76 per cent in Q2 of the current fiscal over last year.

    “Our performance in the first half of this fiscal reflects the company’s focus on growth, gradually emerging out of the challenges of the pandemic that still have a bearing on the media and entertainment industry,” stated Nxtdigital CEO and MD Vynsley Fernandes. “Our strategy for the rest of this fiscal is premised on leveraging the strength of our solutions and our pan-India footprint of touch-points. With a network of Nxthubs offering a host of digital services – ranging from video and broadband, to OTT and WiFi; and layered by our growth in our broadband base and our infrastructure sharing platform – we believe we will not just see growth but also unlock value across our media businesses.”

    The company also informed that it continues to dispose off its non-core assets to reduce debt, and it has sold land held by it in Hyderabad for a total consideration of Rs 69.30 crore, originally acquired at an approximate cost of Rs 25 crore.

    The Rights Issue announced on 13 May by the company – of two equity shares for every five equity shares held in the company, at an issue price of Rs 300 per share is scheduled to open on 15 November and close on 29 November.

    For Q3 and Q4, Nxtdigital said it will continue on its aggressive growth strategy focusing on three key verticals, expanding its footprint through another 60 Nxthubs; continuing to grow its broadband base through a mix of combo products, organic and inorganic growth; and operationalising the infrastructure sharing model, which has now secured all necessary permissions to become India’s first digital content distribution PaaS platform.