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Tag: Amar Chintopanth

  • Hinduja Global Solutions inducts Vynsley Fernandes on the board

    Hinduja Global Solutions inducts Vynsley Fernandes on the board

    Mumbai: Vynsley Fernandes has been inducted as an additional director on the board of Hinduja Global Solutions Ltd. (HGSL) in line with the transfer of the media & communications business from NxtDigital Ltd. (NDL) to HGSL.

    He will continue as the chief executive officer (CEO) of the media & communications division at HGSL, including the portfolio ranging from digital television via satellite (HITS) and cable to broadband, content syndication, and teleshopping.

    Whole-time director and chief financial officer Amar Chintopanth will continue to lead the top management of NDL under the able guidance and leadership of the board of directors.

    Following receipt of the final sanction and approval from NCLT, the media & communications business undertaking of NxtDigital Ltd. (NDL), including the assets and liabilities together with the subsidiaries, was transferred to Hinduja Global Solutions Ltd. (HGSL).

    As a result, he has resigned from his role and board position at NxtDigital Ltd.

    The new NDL will focus on the next phase of reorganisation with the intention of maximising the value of its shareholders, taking the necessary regulatory and other preparatory actions.

  • NxtDigital receives NCLT sanction to the scheme of arrangement with Hinduja Global Solutions

    NxtDigital receives NCLT sanction to the scheme of arrangement with Hinduja Global Solutions

    Mumbai: On Friday, the National Company Law Tribunal (NCLT) gave its final approval and sanction to the scheme of arrangement between NxtDigital (NDL) and Hinduja Global Solutions (HGSL).

    The media & communication business undertaking, including the assets and liabilities as well as the subsidiaries, is transferred to HGSL in accordance with the scheme.

    Amar Chintopanth, a full-time director and the company’s chief financial officer, will remain in that position. The new NDL will concentrate on the next stage of its reorganisation after the scheme takes effect, taking the necessary regulatory and other pre-emptive steps.

    The final order of the NCLT was recorded during a board of directors meeting that was held for the company. Additionally, the board has set 23 November 2022 (the close of business) as the record date for the list of shareholders who will be qualified to receive shares issued by HGSL under the scheme of arrangement.

    All NDL shareholders who held equity shares in the company as of 23 November 2022, at the close of business, will receive an allocation of equity shares in HGSL equal to 20 equity shares fully paid up in HGSL for every 63 equity shares fully paid up in NDL.

    More significantly, all NDL shareholders as of the record date will be qualified to take part in any corporate actions that HGSL chooses to take, including dividends (interim and final), buybacks, and other actions, if any, after the record date.

  • Broadband internet subs growth higher in May-18 than previous month

    Broadband internet subs growth higher in May-18 than previous month

    BENGALURU: India witnessed 2.91 percent growth in broadband internet customers in the month of May 2018 (May-18, month under review) according Telecom Regulatory Authority of India (TRAI) data for the month ended 31 May 2018. Hence, 122.10 lakh (122.10 million, 1.221 crore) broadband subscribers were added in May-18. Comparatively, in April 2018, broadband internet customers grew 1.74 percent (71.90 lakh, 7.19 million, 0.719 crore) vis-a-vis the previous month.

    The smallest segment among broadband internet services providers – the Fixed wireless- WiFi, Wi Max, Point to Point, Radio, Vsat segment, lost about 10,000 subscribers – the segment’s subscriber base fell from 4.2 lakh (0.42 million or 0.042 crore) to 4.1 lakh (0.41 million or 0.041 crore) during the month. The wired broadband internet subscriber base dropped by 30,000 to 179.40 lakh (17.94 million, 1.794 crore) in May-18 from 179.70 lakh (17.97 million, 1.797 crore) in the previous month.

    A major portion-100.25 percent (122.40 lakh or 12.24 million or 1.224 crore) of the new users opted for wireless broadband internet through mobile devices and dongles in May-18. The mobile devices and dongles segment grew 3.05 percent in the month. It may be noted that TRAI considers download speeds equal to or in excess of 512 kbps as broadband internet. Also, TRAI subscriber numbers data is published in millions with two decimal places, hence the accuracy of this report is limited to the nearest 10,000 (Ten Thousand).

    As on 31 May 2018, the top five broadband internet service providers were Reliance Jio Infocomm Ltd orJio with 2055.4 lakh (205.54 million, 20.554 crore), Bharti Airtel or Airtel with 959.1 lakh (95.91 million, 9.591 crore), Vodafone with 614.2 lakh (61.42 million, 6.142 crore), Idea Cellular with 420.7 lakh (42.07 million, 4.207 crore) and BSNL with 207.5 lakh (20.57 million, 2.075 crore) subscribers respectively. The top five service providers constituted 97.54 percent market share of the total broadband subscribers at the end of May-18.

    Wireless Internet

    As on 31 May, 2018, the top five Wireless Broadband Service providers were Jio with 2055.4 lakh (205.54 million, 20.554 crore), Bharti Airtel with 894 lakh (89.40 million, 8,94 crore), Vodafone with 614.2 (61.42 million, 6.142 crore), Idea Cellular  with 420.7 lakh (42.07 million, 42.07 crore) and BSNL with 115.6 lakh (11.56 million, 1.156 crore) subscribers each.

    Jio showed the largest growth in terms of absolute numbers across all segments. Jio’s subscribers have grown by 28.39 percent in calendar year 2018 (CY 2018) since 31 December 2017 (or 1 January 2018, Dec-17). Its subscriber base has grown from 1,600.9 lakh (160.09 million, 16.009 crore) as on 1 January 2017 to 2,055.4 lakh (205.54 million or 20.554 crore) on 31 March 2018. Jio grew by 94.21 lakh (9.421 million, 0.9421 crore) in May 2018. At present, Jio provides only wireless broadband internet services through mobile devices including phones and dongles. The highest growth rate in CY 2018 until May 2018 was also by Jio at 28.39 percent. Further Jio led subscriber growth in May-18 with respect to Apr-18 with 4.80 percent growth.  Idea lost 3.30 lakh subscribers (0.78 percent drop) in May-18. BSNL has also being losing subscribers on a regular basis. Please refer to the figure below

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    Wired Internet

    Though growth of the wired internet subscribers until May-18 has been led by Hathway Cable & Datacom Limited (Hathway), TRAI data shows that the company did not add any significant numbers in May-18. Its subscriber base for Apr-18 and May-18 was the same as per TRAI data. The company added about 60,000 (grew by 8.22 percent) subscribers in CY 2018 until May-18 and its subscriber base grew to 7.9 lakh (0.79 million, 0.079 crore) from 7.3 lakh (0.73 million, 0.073 crore) at the beginning of CY 2018.

    In May-18, the top five Wired Broadband Service providers were BSNL with 91.9 lakh (9.19 million, 0.919 crore), Bharti Airtel with 22 lakh (2.2 million, 0.22 crore), Atria Convergence Technologies or ACT with 13.2 lakh (1.32 million, 0.132 crore), MTNL 8.5 lakh (0.85 million, 0.085 crore and Hathway with 7.9 lakh (0.79 million, 0.079 crore) subscribers respectively. The government’s BSNL and MTNL have in general being losing subscribers. Please refer to the figure below.

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    Other broadband internet service providers
     
    MSOs and (LCOs) or cable video service providers also provide wired broadband internet services in the country. These cable service providers have a number of subsidiaries and alliances, hence broadband numbers are split as applicable. The consolidated subscription numbers of these entities could be larger than the numbers of some of the wired internet services providers mentioned above. However, in general, quarterly results of the major MSOs’ until the quarter ended 31 March 2018 (Q4 2018) indicate that their wired broadband subscription addition efforts have been far below par, some have even had a drop in subscriber numbers.