ITV

Tag: BSE

  • GTPL Hathway files listing prospectus

    GTPL Hathway files listing prospectus

    MUMBAI: GTPL Hathway Limited, a material subsidiary of Hathway Cable & Datacom Limited, has intimated the BSE and the NSE of filing of Draft Red Herring Prospectus by GTPL.

    In the communique, Hathway Cable and Datacom head legal, company secretary & chief compliance officer Ajay Singh has stated: “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that GTPL Hathway Limited, a material subsidiary of the Company, has filed Draft Red Herring Prospectus with the Securities and Exchange Board of India as well as with both the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited.

    As reported by indiantelevision.com earlier, the Hathway board had approved an initial public offering (IPO) proposal which seeks to raise funds for GTPL through a fresh issue of equity shares while giving an option to existing GTPL shareholders to sell their holdings. Hathway holds around 90 lakh shares in GTPL, according to a filing with the Bombay Stock Exchange, over the weekend.

    Among the largest cable television operators in India, the listed Hathway Cable and Datacom Limited (Hathway) has a number of subsidiaries and partnership in the television signal carriage and broadband ecosystems in the company. The company has various levels of investments in these associations. One of its most profitable associations, and probably one of the largest contributors (besides Hathway itself) to Hathway’s consolidated numbers across major financial and operational parameters is GTPL Hathway Limited (GTPL), a material subsidiary, in which Hathway owns a 50 per cent stake.

    Besides Hathway, another major shareholder of GTPL is its co-founder, Aniruddhasinhji Jadeja, who directly owns 14.6 per cent and controls another 29.1 per cent through another shareholding entity Gujarat Digi Com Private Limited which is majority owned by him. The other co-founder Kanaksinh Rana owns 5.2 per cent shares of GTPL.

    Also Read:

    Hathway Cable files GTPL details with BSE

     

  • TV Today not selling 3 FM stations to ENIL; seeks MIB nod for migration

    TV Today not selling 3 FM stations to ENIL; seeks MIB nod for migration

    MUMBAI: TV Today Network shall not undertake the agreement, entered into with Entertainment Network (India) Limited, to sell three Metro FM Radio stations, as was earlier approved by the board in its meeting held on 13 November 2015, according to a BSE filing.

    TV Today had inked a deal to sell seven Oye FM radio stations to ENIL which operates Radio Mirchi. However, MIB did not approve sale of three stations and the matter went before the Delhi High Court.

    Such sale agreement was subject to the approval of the MIB or an order from the Delhi High Court allowing the sale of Metro Radio stations whichever is earlier.

    TV Today said it would now reorganise the radio business. The company would approach the Ministry of Information and Broadcasting to seek permission to migrate its radio business from phase II to phase III.

    “The committee of senior officials in their meeting held on 19 December, 2016 has approved the initiation of procedural modalities w.r.t proposal of migrating its radio business from phase II to the FM radio phase III, that would enable the company from reorganisation of its radio business,” TV Today said in a BSE filing.

    “The migration fee will involve a total net capital expenditure of Rs 71.36 crore excluding other charges/interest and will be completed within three months,” it added.

  • TV Today not selling 3 FM stations to ENIL; seeks MIB nod for migration

    TV Today not selling 3 FM stations to ENIL; seeks MIB nod for migration

    MUMBAI: TV Today Network shall not undertake the agreement, entered into with Entertainment Network (India) Limited, to sell three Metro FM Radio stations, as was earlier approved by the board in its meeting held on 13 November 2015, according to a BSE filing.

    TV Today had inked a deal to sell seven Oye FM radio stations to ENIL which operates Radio Mirchi. However, MIB did not approve sale of three stations and the matter went before the Delhi High Court.

    Such sale agreement was subject to the approval of the MIB or an order from the Delhi High Court allowing the sale of Metro Radio stations whichever is earlier.

    TV Today said it would now reorganise the radio business. The company would approach the Ministry of Information and Broadcasting to seek permission to migrate its radio business from phase II to phase III.

    “The committee of senior officials in their meeting held on 19 December, 2016 has approved the initiation of procedural modalities w.r.t proposal of migrating its radio business from phase II to the FM radio phase III, that would enable the company from reorganisation of its radio business,” TV Today said in a BSE filing.

    “The migration fee will involve a total net capital expenditure of Rs 71.36 crore excluding other charges/interest and will be completed within three months,” it added.

  • Zee Media appoints Sumit Kapoor as CFO

    Zee Media appoints Sumit Kapoor as CFO

    MUMBAI: Zee Media Corporation Limited (ZMCL) has informed the BSE and the National Stock Exchange of India that Sumit Kapoor has been appointed as the chief financial officer (CFO) of the company with effect from 16 December, 2016. Kapoor has replaced Dinesh Garg, ZMCL company secretary Pushpal Sanghavi informed the exchanges.

    Kapoor, a commerce with MBA from IIT Roorkee (with specialisation in finnnce & marketing) has also completed one-year Certificate Programme in Management and Leadership from Harvard Business School, Boston.

    Kapoor is a senior professional with experience of over 15 years in business strategy and planning, investment proposals (national/international) and investors relations with various corporate houses including Monnet Group, E&Y, CB Richard Ellis and Delloitle.

    His last assignment was with Monnet Group, Delhi, as a senior resource – strategic finance/business strategy & head – investors relations.

  • Zee Media appoints Sumit Kapoor as CFO

    Zee Media appoints Sumit Kapoor as CFO

    MUMBAI: Zee Media Corporation Limited (ZMCL) has informed the BSE and the National Stock Exchange of India that Sumit Kapoor has been appointed as the chief financial officer (CFO) of the company with effect from 16 December, 2016. Kapoor has replaced Dinesh Garg, ZMCL company secretary Pushpal Sanghavi informed the exchanges.

    Kapoor, a commerce with MBA from IIT Roorkee (with specialisation in finnnce & marketing) has also completed one-year Certificate Programme in Management and Leadership from Harvard Business School, Boston.

    Kapoor is a senior professional with experience of over 15 years in business strategy and planning, investment proposals (national/international) and investors relations with various corporate houses including Monnet Group, E&Y, CB Richard Ellis and Delloitle.

    His last assignment was with Monnet Group, Delhi, as a senior resource – strategic finance/business strategy & head – investors relations.

  • Videocon D2H to merge with Dish TV; serve 28 million subscribers

    Videocon D2H to merge with Dish TV; serve 28 million subscribers

    MUMBAI: The Board of Directors of Dish TV and Videocon d2h Limited today approved a scheme of arrangement for the amalgamation of Vd2h into Dish TV and the execution of definitive agreements in relation to such amalgamation.

    Following the closing of the proposed transaction, the merged entity will be renamed as Dish TV Videocon Limited. Pursuant to the Scheme, Dish TV Videocon shall issue 857.791 million shares as consideration for the scheme and the Vd2h shareholders shall be allotted 2.021 new shares of Dish TV Videocon for every one share held in Vd2h (subject to certain adjustments as set out in the Scheme), which would result in Dish TV shareholders owning 1,066.861 million existing shares or 55.4% of Dish TV Videocon, and Vd2h shareholders owning 857.791 million new shares or 44.6% of Dish TV Videocon.

    The fully diluted share count of Dish TV at 1,066,863,665 shares, which will lead to 857,785,766 shares of Dish TV Videocon being issued to Vd2h shareholders. Exchange ratio rounded off to two decimal places. One Vd2h ADS represents four equity shares of Vd2h.

    Dish TV EBITDA are reported EBITDA figures, while Vd2h EBITDA are reported adjusted EBITDA figures; EBITDA is not a standardized term, hence direct comparison between companies using the same term may not be possible. Other companies may calculate EBITDA differently from Dish TV and Vd2h, limiting their usefulness as comparative measures

    Dish TV Videocon will be led by Jawahar Lal Goel as the chairman and managing director, combining the strength of senior and operating management teams while offering further career growth opportunities for employees of the two merging companies. The Vd2h principals shall have the right to nominate two directors on the Dish TV Videocon Board, one of whom shall be the vice chairman and the other a deputy managing director.

    The proposed transaction is expected to create a leading cable and satellite distribution platform in India. Dish TV Videocon would serve 27.6 million net subscribers in India, as of September 30, 2016, on a pro-forma basis, out of a total of 175 million TV households in India highlighting significant room for growth. The combined entity would have revenue of Rs. 59,158 million and EBITDA2 of Rs. 18,262 million on a pro-forma basis for the fiscal year ended 31 March 2016 positioning it as a leading media company in India. The proposed transaction is expected to provide better synergies and growth opportunities and enable Dish TV Videocon to provide differentiated and superior service to all customers through deeper after-sales, distribution and technology capabilities, and also become a more effective partner for TV content providers in India.

    Goel said: “This transaction, that brings together two powerhouse brands of the cable & satellite Industry in India, will provide us with a gateway to harness growth opportunities in an ultra-competitive multi player environment. This combine will enhance value for all stakeholders – consumers, government, employees and shareholders. Dish TV has been a pioneering and path breaking company which has taken the pain and responsibility of establishing many new processes, like the electronic & digital payments system that were the business need of the initial years and went on to become the industry norm of a dynamic and throbbing Industry. Now we take the next leap in our very exciting and exhilarating journey.”

    Vd2h executive chairman Saurabh Dhoot said: “Today, we are very excited about this strategic combination to create a solid platform with decisive and proven leadership at the front would lead Dish TV Videocon to create value for all stakeholders, our customers, employees, and our shareholders.”

    At the close of the proposed transaction, the current promoters of Dish TV shall continue as promoters of Dish TV Videocon. The Dish TV principals are also in discussion with the Vd2h principals to purchase some of the Vd2h principals’ shares in Dish TV Videocon post the amalgamation, details of which are likely to be finalised soon.

    Upon closing of the proposed transaction, Dish TV Videocon shall continue to be listed on the National Stock Exchange of India and the BSE Limited in India and on the Luxembourg Stock Exchange in the form of GDRs. In the Scheme, holders of Vd2h ADRs will receive their new shares in the form of GDRs, unless they elect to receive and hold new shares directly.

    The proposed transaction remains subject to approvals, including from the Securities and Exchange Board of India, the stock exchanges, shareholders and creditors of both companies, the Competition Commission of India, the High Court of Bombay and the Ministry of Information and Broadcasting. The proposed transaction is expected to close in the second half of 2017.

    Morgan Stanley is acting as the exclusive financial advisor to Dish TV, and YES Securities (India) Limited is acting as the lead financial advisor to Vd2h. The other advisors involved are — EY, SR Batliboi & Co. LLP, Luthra & Luthra Law Offices for Dish TV, and KPMG, Shardul Amarchand Mangaldas & Co., and Edelweiss Capital for Vd2h. Shearman & Sterling is acting as international legal advisor to both Dish TV and Vd2h in respect of the, US federal securities law and related aspects of the proposed transaction.

    The new shares of Dish TV Videocon to be issued pursuant to the Scheme have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. New shares of Dish TV Videocon to be issued pursuant to the Scheme will be issued pursuant to the exemption from registration provided by Section 3(a)(10) under the Securities Act.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved of the new shares of Dish TV Videocon to be issued pursuant to the Scheme, or determined if this announcement is accurate or complete. Any representation to the contrary is a criminal offence in the United States.

    Dish TV and Vd2h are incorporated under the laws of India. In addition, most their respective officers and directors reside outside the United States, and some or all of their assets are or may be located in jurisdictions outside the United States.

  • Videocon D2H to merge with Dish TV; serve 28 million subscribers

    Videocon D2H to merge with Dish TV; serve 28 million subscribers

    MUMBAI: The Board of Directors of Dish TV and Videocon d2h Limited today approved a scheme of arrangement for the amalgamation of Vd2h into Dish TV and the execution of definitive agreements in relation to such amalgamation.

    Following the closing of the proposed transaction, the merged entity will be renamed as Dish TV Videocon Limited. Pursuant to the Scheme, Dish TV Videocon shall issue 857.791 million shares as consideration for the scheme and the Vd2h shareholders shall be allotted 2.021 new shares of Dish TV Videocon for every one share held in Vd2h (subject to certain adjustments as set out in the Scheme), which would result in Dish TV shareholders owning 1,066.861 million existing shares or 55.4% of Dish TV Videocon, and Vd2h shareholders owning 857.791 million new shares or 44.6% of Dish TV Videocon.

    The fully diluted share count of Dish TV at 1,066,863,665 shares, which will lead to 857,785,766 shares of Dish TV Videocon being issued to Vd2h shareholders. Exchange ratio rounded off to two decimal places. One Vd2h ADS represents four equity shares of Vd2h.

    Dish TV EBITDA are reported EBITDA figures, while Vd2h EBITDA are reported adjusted EBITDA figures; EBITDA is not a standardized term, hence direct comparison between companies using the same term may not be possible. Other companies may calculate EBITDA differently from Dish TV and Vd2h, limiting their usefulness as comparative measures

    Dish TV Videocon will be led by Jawahar Lal Goel as the chairman and managing director, combining the strength of senior and operating management teams while offering further career growth opportunities for employees of the two merging companies. The Vd2h principals shall have the right to nominate two directors on the Dish TV Videocon Board, one of whom shall be the vice chairman and the other a deputy managing director.

    The proposed transaction is expected to create a leading cable and satellite distribution platform in India. Dish TV Videocon would serve 27.6 million net subscribers in India, as of September 30, 2016, on a pro-forma basis, out of a total of 175 million TV households in India highlighting significant room for growth. The combined entity would have revenue of Rs. 59,158 million and EBITDA2 of Rs. 18,262 million on a pro-forma basis for the fiscal year ended 31 March 2016 positioning it as a leading media company in India. The proposed transaction is expected to provide better synergies and growth opportunities and enable Dish TV Videocon to provide differentiated and superior service to all customers through deeper after-sales, distribution and technology capabilities, and also become a more effective partner for TV content providers in India.

    Goel said: “This transaction, that brings together two powerhouse brands of the cable & satellite Industry in India, will provide us with a gateway to harness growth opportunities in an ultra-competitive multi player environment. This combine will enhance value for all stakeholders – consumers, government, employees and shareholders. Dish TV has been a pioneering and path breaking company which has taken the pain and responsibility of establishing many new processes, like the electronic & digital payments system that were the business need of the initial years and went on to become the industry norm of a dynamic and throbbing Industry. Now we take the next leap in our very exciting and exhilarating journey.”

    Vd2h executive chairman Saurabh Dhoot said: “Today, we are very excited about this strategic combination to create a solid platform with decisive and proven leadership at the front would lead Dish TV Videocon to create value for all stakeholders, our customers, employees, and our shareholders.”

    At the close of the proposed transaction, the current promoters of Dish TV shall continue as promoters of Dish TV Videocon. The Dish TV principals are also in discussion with the Vd2h principals to purchase some of the Vd2h principals’ shares in Dish TV Videocon post the amalgamation, details of which are likely to be finalised soon.

    Upon closing of the proposed transaction, Dish TV Videocon shall continue to be listed on the National Stock Exchange of India and the BSE Limited in India and on the Luxembourg Stock Exchange in the form of GDRs. In the Scheme, holders of Vd2h ADRs will receive their new shares in the form of GDRs, unless they elect to receive and hold new shares directly.

    The proposed transaction remains subject to approvals, including from the Securities and Exchange Board of India, the stock exchanges, shareholders and creditors of both companies, the Competition Commission of India, the High Court of Bombay and the Ministry of Information and Broadcasting. The proposed transaction is expected to close in the second half of 2017.

    Morgan Stanley is acting as the exclusive financial advisor to Dish TV, and YES Securities (India) Limited is acting as the lead financial advisor to Vd2h. The other advisors involved are — EY, SR Batliboi & Co. LLP, Luthra & Luthra Law Offices for Dish TV, and KPMG, Shardul Amarchand Mangaldas & Co., and Edelweiss Capital for Vd2h. Shearman & Sterling is acting as international legal advisor to both Dish TV and Vd2h in respect of the, US federal securities law and related aspects of the proposed transaction.

    The new shares of Dish TV Videocon to be issued pursuant to the Scheme have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. New shares of Dish TV Videocon to be issued pursuant to the Scheme will be issued pursuant to the exemption from registration provided by Section 3(a)(10) under the Securities Act.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved of the new shares of Dish TV Videocon to be issued pursuant to the Scheme, or determined if this announcement is accurate or complete. Any representation to the contrary is a criminal offence in the United States.

    Dish TV and Vd2h are incorporated under the laws of India. In addition, most their respective officers and directors reside outside the United States, and some or all of their assets are or may be located in jurisdictions outside the United States.

  • NDTV challenges I&B Ministry order in Supreme Court

    NDTV challenges I&B Ministry order in Supreme Court

    MUMBAI: NDTV has challenged in the Supreme Court the I&B Ministry’s order of one-day ban on its Hindi news channel NDTV India. The Ministry of Information & Broadcasting (MIB) had directed NDTV India to go off air for 24 hours from 9 November 2016 00:01 hrs as a penalty for showing strategically-sensitive information while covering the Pathankot military operation in January this year.

    In response, the company argued that it was not the only channel that disclosed the information for which it is being penalised. NDTV has petitioned the Supreme Court challenging the order.

    In a BSE filing, the news network said that it has filed a writ petition before the Supreme Court, inter-alia, challenging the constitutional validity of the said order, and the provisions of law pursuant to which the said order has purportedly been passed.

    The Editors Guild of India, the Broadcast Editors Association (BEA), the News Broadcasters Association (NBA) and several influential personalities such as Rajdeep Sardesai, Sagarika Ghose, Rana Ayyub, Rahul Kanwal, Praveen Swami, and journalists from the channel — Ravish Kumar, etc have shown solidarity towards the channel and have come up in full support against the government’s order. They have demanded its immediate revocation.

    Others such as Zee group chairman Dr Subhash Chandra have said that the government is being soft on NDTV and that the ban should be for a lifetime for daring to carry reports which could harm the country’s security. He additionally said on twitter that if the channel dares to go to court to challenge the ban, its appeal will be rejected.

    The blackout of NDTV India comes at a crucial time when the news channels, apart from covering the current affairs, will be providing extensive coverage of the US Presidential Elections 2016.

  • NDTV challenges I&B Ministry order in Supreme Court

    NDTV challenges I&B Ministry order in Supreme Court

    MUMBAI: NDTV has challenged in the Supreme Court the I&B Ministry’s order of one-day ban on its Hindi news channel NDTV India. The Ministry of Information & Broadcasting (MIB) had directed NDTV India to go off air for 24 hours from 9 November 2016 00:01 hrs as a penalty for showing strategically-sensitive information while covering the Pathankot military operation in January this year.

    In response, the company argued that it was not the only channel that disclosed the information for which it is being penalised. NDTV has petitioned the Supreme Court challenging the order.

    In a BSE filing, the news network said that it has filed a writ petition before the Supreme Court, inter-alia, challenging the constitutional validity of the said order, and the provisions of law pursuant to which the said order has purportedly been passed.

    The Editors Guild of India, the Broadcast Editors Association (BEA), the News Broadcasters Association (NBA) and several influential personalities such as Rajdeep Sardesai, Sagarika Ghose, Rana Ayyub, Rahul Kanwal, Praveen Swami, and journalists from the channel — Ravish Kumar, etc have shown solidarity towards the channel and have come up in full support against the government’s order. They have demanded its immediate revocation.

    Others such as Zee group chairman Dr Subhash Chandra have said that the government is being soft on NDTV and that the ban should be for a lifetime for daring to carry reports which could harm the country’s security. He additionally said on twitter that if the channel dares to go to court to challenge the ban, its appeal will be rejected.

    The blackout of NDTV India comes at a crucial time when the news channels, apart from covering the current affairs, will be providing extensive coverage of the US Presidential Elections 2016.

  • Vikram Chandra steps down; KVL Narayan Rao is new NDTV group CEO

    Vikram Chandra steps down; KVL Narayan Rao is new NDTV group CEO

    MUMBAI: The rumours that were making rounds of Vikram Chandra stepping down from his post at NDTV have now been put to rest.

    The NDTV informed the Bombay Stock Exchange (BSE) that the company Board of Directors has approved the decision of Chandra to step down from the position of the group chief executive officer (CEO) and executive director of NDTV with immediate effect.

    Chandra was appointed the group CEO in 2011 for a term of three years which was further extended by another two years. Chandra has expressed the wish to return to full time journalism within NDTV and focus on the TV shows of the Group. Chandra will continue with the Company as Consulting Editor.

    The Board while accepting the decision of Chandra placed on record its appreciation of his valuable contribution as CEO. The Board on the recommendation of the Nomination and Remuneration Committee today approved that the executive vice-chairperson KVL Narayan Rao take over additional responsibilities as the Group CEO of NDTV with immediate effect.

    Rao has been associated with the Company for nearly 22 years in various capacities including Group CEO and has been a key factor in the creation of NDTV.

    Rao has served three terms as the president of the News Broadcasters Association (NBA). He has also been on the Board of Indian Broadcasting Foundation (IBF) and V ice President of the Commonwealth Broadcasting Association. He continues to be on the Board of both the NBA and the IBF.

    Rao is one of the most respected leaders of the news broadcasting fraternity where he has often played a critical role.