ITV

Tag: BSE

  • India Today Group CEO Vivek Khanna resigns

    India Today Group CEO Vivek Khanna resigns

    MUMBAI: India Today Group CEO Vivek Khanna has resigned, according to his letter dated 30 November 2018. The resignation was informed to the Bombay Stock Exchange on the same date stating that he plans to pursue other professional opportunities by the company. Khanna would serve his notice period as per his terms of appointment. Khanna joined India Today Group in November 2017.

    Khanna comes with over 25 years of experience in strategy, sales and marketing. Prior to India Today, Khanna was with Hindustan Media Ventures Limited, HT Media, Aviva and Hindustan Lever. An alumnus of IIM Ahmedabad, Khanna began his career with Hindustan Unilever and Aviva Life Insurance. He moved to HT Media in 2008. Since 2013 to 2017, he was the CEO of HMVL.

  • NDTV’s Prannoy & Radhika Roy get SEBI notice for insider trading

    NDTV’s Prannoy & Radhika Roy get SEBI notice for insider trading

    MUMBAI: Market regulator Securities and Exchange Board of India (SEBI) has issued a show cause notice to Dr Prannoy Roy and his wife Radhika, both promoters of New Delhi Television Ltd (NDTV) for alleged insider trading.

    “Prannoy Roy and Radhika Roy, have informed that on 10 September 2018, they have received a show cause notice dated 31 August 2018, by the Securities and Exchange Board of India,” NDTV said in a regulatory filing.

    NDTV said the notice has been issued alleging violation of provisions of Section 12A (d) and (e) of the SEBI Act read with Regulation 3(i) and Regulation 4 of SEBI(Prohibition of lnsider Trading) Regulations, 1992.

    It further stated, “The promoters of NDTV are in the process of seeking legal advice to take appropriate action in the said matter. Since the company is not a party to the show cause notice, there will not be any financial implications of the show cause notice on the company”.

    NDTV closed Tuesday 3 per cent down at Rs 34.30 on the BSE, while the 30-share Sensex ended the day 1.34 per cent down at 37,413.

  • Hathway Cable gets approval to raise funds worth Rs 99.63 crore

    Hathway Cable gets approval to raise funds worth Rs 99.63 crore

    MUMBAI: Leading cable and broadband player Hathway received an approval to raise funds worth Rs 99.63 crore at a board meeting held on 29 August. Following the approval the company’s shares rallied as much as 15 per cent.

    The approval has come for raising of funds through issuance of 30,800,000 equity shares at a price of Rs 32.35 per equity share including premium of Rs 30.35 per equity share which is higher than the issue price determined in accordance with Regulation 76 of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, aggregating to Rs. 99.63 crore on preferential basis to Hathway Investments Private Ltd, an entity forming part of the promoter group, as posted on BSE.

    Hathway offers cable television services across 140 cities and towns and high-speed cable broadband services across 21 cities.

  • RCom sells Rs 3000 cr fibre assets to Jio

    RCom sells Rs 3000 cr fibre assets to Jio

    MUMBAI: Reliance Communications has completed the sale of its fibre assets worth Rs 3000 crore to Reliance Jio Infocomm on Monday. After the completion of the fibre monetisation transaction, 178,000 kilometres of fibre stand transferred to Reliance Jio, RCom said in a statement to the Bombay Stock Exchange.

    RCom had last week completed the sale of its media convergence nodes(http://www.indiantelevision.com/iworld/telecom/rcom-sells-assets-worth-rs-2000-crore-to-reliance-jio-180823) and related infrastructure assets worth Rs 2,000 crore to Reliance Jio. The company said 248 MCNs covering about 5 million square feet of area used for hosting the telecom infrastructure were transferred to Reliance Jio.

    In December 2017, as part of its debt resolution plan, RCom had struck a Rs 25,000-crore deal with the Mukesh Ambani-led Reliance Jio for the sale of its assets mortgaged with different banks, to avoid insolvency proceedings. RCom’s assets are expected to contribute significantly to the large-scale roll out of wireless and fiber-to-home and enterprise services by Reliance Jio.

    The debt-laden company expects to raise about Rs 18,000 crore by selling the wireless assets to Jio and real estate assets to Canada’s Brookfield. The company also said that it would sell an additional 65 MHz spectrum in the 800 MHz band to Jio for Rs 3,500-3,700 crore. Last year, the company shut down its wireless services.

  • GTPL Hathway appoints Viren Thakkar as new chief financial officer

    GTPL Hathway appoints Viren Thakkar as new chief financial officer

    MUMBAI: GTPL Hathway , one of the major players in the Indian cable TV and broadband industry, has appointed Viren Thakkar as chief financial officer of the company. The appointment ,which will come into effect from 2nd July, was posted on the Bombay Stock Exchange (BSE) website.

    Earlier this month, the former CFO of the company Jayanta Pani resigned from his post after spending around one and half year in the company. Pani’s last working day at GTPL, where he joined in November 2008, will be 30th June.

    Viren Thakkar , a chartered accountant and a cost accountant, started his career in 1991 with Anil Starch Products Limited, an Ahmedabad-based Lalbhai Group company.

    The newly appointed CFO has over 27 years of experience in corporate finance, cost control, budgeting, internal control and audit and corporate planning. Earlier, he has worked as CFO in Roquette Riddhi Siddhi Private Limited. He had the responsibility of India, Middle East and Africa Region.

    Between 2007 and 2012, Viren Thakkar was general manager – finance at Torrent Power Limited, a part of Ahmedabad-based Torrent Group. He used to manage the finance, accounts, treasury operations, costing and taxation direct and indirect) at corporate level for Torrent Power and group companies. Along with that He was also involved in business development activities and handled insurance portfolio at the group level.

    Other than that, the experienced professional was also associated with Doshion Limited (Ahmedabad), Southern Range Nyanza Limited (Uganda), and Gujarat Telephone Cables Limited (Ahmedabad).

    Also Read:

    Jayanta Pani Resigns as CFO of GTPL Hathway

    GTPL Hathway board okays additional stake buy in subsidiaries

  • Dish TV promoter cos offer to buy 26% from public shareholders

    Dish TV promoter cos offer to buy 26% from public shareholders

    NEW DELHI: The promoter group entities of Dish TV India Ltd (Dish TV) have made an offer to buy an additional 26 per cent equity stake from public shareholders of the direct-to-home (DTH) operator for Rs 3,701 crore.

    According to a release issued to the BSE today, Dish TV promoter entities World Crest Advisors LLP, along with Veena Investments Pvt Ltd and Direct Media Distribution Venture Pvt Ltd, announced an offer to acquire shares of Dish TV at a price of Rs 74 per share.

    The offer is being made to all the shareholders of Dish TV to acquire up to 50.01 crore shares of the company that form 26 per cent of the emerging share capital, payable in cash.

    Last month, the long drawn out merger of Dish TV and Videocon d2h Ltd (Videocon d2h) finally came to pass. The combined entity, to be named Dish TV Videocon, will have approximately 29 million subscribers, making it the second largest DTH company in the world. There was a halt in the merger scheme about three months ago when Dish TV wanted Videocon d2h to clarify some of the insolvency proceedings against it.

    Also Read:

    Videocon d2h, Dish TV merger comes to fruition

    Dish TV announces fresh Videocon d2h Nasdaq delisting date

  • Shemaroo board approves incorporation of US subsidiary

    Shemaroo board approves incorporation of US subsidiary

    MUMBAI: Shemaroo Entertainment Ltd’s (Shemaroo) board of directors, at its meeting today, gave the green light to invest in a company to be incorporated as a wholly owned subsidiary in America’s New Jersey.

    According to Shemaroo’s release to the BSE, the new entity is likely to be called Shemaroo Media & Entertainment Inc. The company will work in the media and entertainment industry and have a paid-up share capital of USD 50,000. 

    Gearing itself for the next phase of growth, Shemaroo restructured its top leadership last month. The entertainment and content company elevated Hiren Gada as the chief executive officer (CEO) in addition to his existing role as chief financial officer (CFO). The company also promoted Kranti Gada to the role of chief operating officer (COO).

    Having spent time with various divisions within Shemaroo and leading the organisation to scale up and get listed, Gada took on the leadership role in addition to his role as the CFO.

    Also Read:

    Rahul Mishra Shemaroo’s new general manager marketing

    Shemaroo’s third quarter numbers improve, digital revenue increases

  • Den Networks appoints Himanshu Jindal as CFO

    Den Networks appoints Himanshu Jindal as CFO

    MUMBAI: Den Networks has appointed Himanshu Jindal as chief financial officer with immediate effect.

    Jindal is a chartered accountant with more than 15 years of experience spanning across sectors like consulting, pharmaceuticals, commodity trading and cement manufacturing industries. 

    His last assignment was with Heidelberg Cement India Ltd March 2007 till March 2018 and was responsible for treasury, corporate finance, risk management, internal audit and controls, corporate communication, investor relations and management reporting. Prior to Heidelberg, he has worked with Cargill, Cipla and Pfizer Limited.

    “Rajesh Kaushall has resigned as CFO of the company. The management appreciated the work done by him towards growth of the company. He will continue to act as an advisor to the company,” DEN stated in a filing to Bombay Stock Exchange.

    Also Read:

    Hathway Bhawani appoints Vatan Pathan as CEO

    BCCI strengthens IPL ACU, appoints Ajit Singh as head

  • Hathway CFO Vineet Garg resigns

    Hathway CFO Vineet Garg resigns

    MUMBAI: Hathway Cable and Datacom chief financial officer (CFO) Vineet Garg has resigned effective 15 May 2018. He has also resigned as a director from the board of Hathway Bhawani Cabletel and Datacom.

    “We wish to inform you that Vineet Garg, director, has tendered his resignation with immediate effect i.e. from 30 March 2018,” Hathway Bhawani said in a filing to the BSE.

    Hathway’s release to the BSE stated: “Pursuant to Regulation 30 (6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Part A of Schedule III, we wish to inform your kind office that Vineet Garg-chief financial officer (key managerial personnel) of the company has tendered his resignation and his resignation shall be effective from 15 May 2018.”

    Garg had joined Hathway in June 2014. He was promoted to CFO in February 2016 following the exit of G Subramaniam. Prior to Hathway, Garg was with Reliance Communications as national head lifecycle management – wireless operations. His career spans more than 21 years in the telecom and media industry.

    Also Read:

    Hathway reports improved standalone Q3 results

    Hathway leads the way in wireline net subs addition in Q3

  • SC defers nod for RCom asset sale

    SC defers nod for RCom asset sale

    MUMBAI: The Supreme Court today did not grant permission to Reliance Communications Ltd (RCom) to sell its wireless assets to Reliance Jio Infocomm Ltd, deferring the case for two weeks.

    The ruling marks a setback for RCom, which is trying to reduce its debt worth $6.8 billion and pay back its creditors. The Supreme Court set a hearing for April 5 to continue examining whether it will allow the sale to go through despite an ongoing legal challenge filed by Swedish telecom gearmaker Ericsson at an arbitration tribunal. The Swedish company had sought the court’s help to prevent RCom from selling assets without its permission.

    “In view of the intervening court holidays on 29th and 30th March 2018, the matter has been fixed for hearing in the subsequent week on Thursday, 5th April 2018,” RCom’s release to the BSE stated.

    State Bank of India, one of RCom’s biggest creditors, had filed a petition to the apex court to allow the sale to go through even as Ericsson’s case remained at the arbitration tribunal.

    RCom, controlled by Anil Ambani, had decided in December to sell its wireless assets to Jio in a deal pegged at $3.8 billion, according to market sources. 

    COMMENTS

    “As legally advised, RCom remains confident that its asset monetisation programme will be  completed  expeditiously  to protect  the  interests  of its secured  lenders,  much  in advance of the time limit of 31st August 2018 prescribed by the RBI for resolution of such cases,” the release added.