Tag: IL&FS

  • Vishal Gondal quits Disney UTV Digital; Sameer Ganapathy to replace

    Vishal Gondal quits Disney UTV Digital; Sameer Ganapathy to replace

    MUMBAI: UTV Disney managing director – digital Vishal Gondal has decided it is time he should be gone from India‘s premier gaming company. Gondal took over as digital MD of the company in August 2012, almost a year after Indiagames.com a company he founded was acquired by Disney in 2011, following the buyout of media company UTV by Disney. He is serving his notice period and his last working day will be 30 June.

    The Digital team of Disney UTV combines all mobile, video, audio, broadband, ITV, games and virtual world‘s initiatives. All digital content across all brands namely Disney, Marvel, UTV, Indiagames, bindass including original content for web, mobile and games will be developed and managed by this team.

    The gaming pioneer set up Indiagames when he was just 13 in 1999 and ran it for years before a majority stake in it was acquired by Chinese gaming company Tom Online. Tom Online later sold its holdings in Indiagames to UTV. Gondal was appointed as MD of Disney UTV Digital in August 2012 after The Walt Disney Company India restructured its digital assets under a new division, Disney UTV Digital. He took over the role to drive better growth in games, video and audio services for mobile, online and interactive TV.

    Gondal is believed to be quitting the company to concentrate on his investments in startups and also to pursue entrepreneurship. He has been part of the Nokia Advisory Council for Games and actively advices Nokia on wireless and gaming technologies.

    Disney UTV executive director movie channels and channel distribution Sameer Ganapathy will now take on the business function for the digital arm of Disney UTV.

    Disney UTV MD Ronnie Screwvala said, “Vishal has been a great founder and CEO for Indiagames. As we consolidate the digital, mobile and web play for Disney UTV in India, we plan to build on our creative prowess and transform the digital business to be a direct to consumer, yet working closely with all our partners, telecom operators, OEM‘s and others. This is similar to our approach in our other verticals of movies, broadcasting and consumer products. Sameer Ganapathy brings an astute business sense and high resourcefulness to this position, which is key to meet the ever growing trajectory of the digital business in India.”

    “Indiagames had small beginnings but a big dream. I cannot help but look back with a tremendous sense of fulfillment and pride, upon the long, eventful and exciting journey. I am really proud of what the team has accomplished. Excellent support from our early investors Infinity, IL&FS, TOM Online, Adobe, Cisco and UTV and the subsequent acquisition by Walt Disney provided us the opportunity to work towards our vision of making gaming big in India. Over the last 18 months, we have spent time integrating the teams and set a platform for continued growth. Consequently, I‘ve decided to move on to pursue my dreams and passion of being an entrepreneur,” said Gondal.

  • IL&FS sells 4 million IBN18 shares for Rs 410 million

    IL&FS sells 4 million IBN18 shares for Rs 410 million

    MUMBAI: IL&FS Private Equity Trust has sold four million shares of IBN18, a Network18 Group company, for Rs 410 million.

    IL&FS offloaded the IBN18 shares in the open market at Rs 100.25 per share. IBN18 houses news channels CNN IBN, IBN7 and IBN Lokmat.

    IL&FS sold to Talma Chemical Industries and Indea Long Term Opportunities Master Fund in two bulk deals. There were other buyers as well which did not get reflected in bulk deals.

    Talma Chemical Industries purchased 1.7 million IBN18 shares, paying out around Rs 170.42 million. Indea Long Term Opportunities Mssaster Fund, on the other hand, picked up 1 million shares for around Rs 100.25 million.

    Shares of IBN18 closed Tuesday at Rs 114.95 on the BSE, up 14.95 per cent over the previous close.

  • Global Broadcast News sets Rs 230-250 price band for public issue

    Global Broadcast News sets Rs 230-250 price band for public issue

    MUMBAI: Global Broadcast News Ltd, owners and operators of English news channel CNN-IBN, has set a price band of Rs 230 to Rs 250 for its Rs 1.05 billion initial public offering (IPO).

    The issue will open on 15 January and close on 18 January. The proceeds of the IPO will be used to meet the company’s growth plans and to complete the acquisition of Hindi channel IBN-7.

    “This is the second company we are taking to the markets. All future channel launches, which will be in the general news space will be through this company,” TV18 managing director Raghav Bahl said at an analysts meet in Mumbai today. TV18, which holds the business channels CNBC TV18 and CNBC Awaaz, was listed late last month after being restructured to meet regulatory guidelines.

    GBN will also hold 15 per cent in Web18, the company that holds all the internet properties of TV18.

    After the listing, foreign institutional investors will have a limit of investing upto 18 per cent. “GBN will have a foreign holding of eight per cent through Network18. This will mean that FIIs can hold 18 per cent in GBN,” Bahl clarified. Regulation permits news channels uplinking from India to have a maximum foreign holding of 26 per cent.

    The IPO is lead managed by ICICI Securities and Kotak Mahindra Capital Company Ltd. The co-book running lead managers to the issue are JM Morgan Stanley and IL&FS Investment.

  • Tata Sky on track for one million subscribers, unveils interactive edutainment service for kids

    Tata Sky on track for one million subscribers, unveils interactive edutainment service for kids

    MUMBAI: Tata Sky Ltd. is putting together a product offering that would help it ramp up one million subscribers in the first year of operations. The latest in this effort: a new interactive service, Active Wizkids, aimed at kids in the age group between 3-6 years.

    “We are enhancing our product offering virtually every week with more channels and functionality,” says Tata Sky managing director and CEO Vikram Kaushik.

    The result: Tata Sky has crossed 100,000 subscribers within the first 15 days of launch and almost 30 per cent of these subscribers are from rural areas.

    “Our service is on track to reach one million subscribers by the end of the first year,” says Kaushik.

    Kaushik expects the Zee-Turner channels to come on board soon as the dispute is up for final hearing in a Delhi court next week. The DTH service provider is also in talks with Sun TV, the most popular network in the southern states, but no commercial agreement is expected soon. “We gave them a proposal and are in negotiations with them. But a deal is still far away,” says Kaushik.

    Tata Sky is currently offering 75 channels and eight interactive services at the introductory price of Rs 200 a month. “We may look at new pricing later. But for a consumer who takes our service, the introductory offer is at least for four months,” says Kaushik.

    For Active Wizkids, Tata Sky has partnered with IL&FS and the product was developed after a year of research. The aim is to make learning an entertaining activity for children, through games, audio instructions and animated mascots. These games encompass a variety of subjects ranging from mathematics to english and general knowledge. It seeks to be applicable to children’s differential learning styles, to hone their basic learning skills.

    Tata Sky claims Active Wizkids to be a first of its kind interactive edutainment service in the world that would enhance a child’s classroom learning through entertaining, yet educational games.

    Developed by an in-house team at Tata Sky, the service has four sections called Beginners, Juniors, Seniors and Happy Times, attempting to make it as age, time and activity appropriate. The television-based service will be refreshed on a daily basis to avoid monotony and is supported by four friendly mascots, each representing a specific learning style. Jimbo the baby elephant, represents listening, the Busy rat represents doing, Spiky, the teenage alligator, represents looking or observing and Hi Ho, the donkey with his big muscles, represents playing.

    In connection with this, another child centric service available on Tata Sky’s platform is the Parental Control service which allows parents to regulate what their children watch on television. The Parental Control service not only allows an entire channel to be blocked out, but also allows blocking of movies based on parental ratings across channels, reiterating Tata Sky’s commitment to transferring control and convenience into the hands of consumers.

    The DTH service has 11 localized language options. However, Active Wizkids is presented in English. Explaining the rationale behind using this medium of communication, Kaushik says, “We have observed that parents are keen to have the basic education of their kids in English. Our focus is on learning of alphabets and numbers. Though we are initially aiming at the 3-6 year olds, we will expand this age category in future,” says Kaushik.

    Tata Sky has strengthened its distribution network to cover 3200 towns and cities, with 12,500 dealers across the country. The service is backed up by three call centres in Pune, Hyderabad and Chandigarh which receive about 10,000 calls a day.

    So how does Kaushik view the battle between cable TV and DTH? “There will be a restructuring in TV distribution. Going forward, DTH and cable will co-exist. In the US, 70 per cent of the market is dominated by cable TV while in UK DTH enjoys 70-80 per cent of the slice,” says Kaushik.

  • IL&FS acquires 26% in E-City Entertainment for Rs 1 billion

    IL&FS acquires 26% in E-City Entertainment for Rs 1 billion

    MUMBAI: Subhash Chandra-promoted E-City Entertainment has diluted 26 per cent stake to Infrastructure Leasing & Financial Services Ltd (IL&FS) for Rs 1 billion.

    The funds will be used for real estate development in two new projects which will require a total investment of Rs 2 billion. “IL&FS has acquired 26 per cent stake in E-City for Rs 1 billion. We will be investing Rs 2 billion in two projects, for which we are also raising a debt of Rs 1 billion,” E-City Ventures CEO Atul Goel tells Indiantelevision.com.

    E-City hived off its multiplex business into a company called Fun Multiplex Pvt Ltd last year, Goel said. The real estate business is being handled by E-City Entertainment and is setting up malls. “We decided to hive off the multiplex and real estate businesses into separate companies. We felt that the investors in real estate would not necessarily want to take exposure to the multiplex business,” Goel said.

    E-City hived off its multiplex business into a company called Fun Multiplex Pvt Ltd last year, Goel said. The real estate business is being handled by E-City Entertainment and is setting up malls. “We decided to hive off the multiplex and real estate businesses into separate companies. We felt that the investors in real estate would not necessarily want to take exposure to the multiplex business,” Goel said.

    The company has already invested Rs 2.17 billion in developing five projects. E-City Entertainment has put in Rs 600 million for the Andheri property (130,000 sq ft) in Mumbai, Rs 750 million in Lucknow (400,000 sq ft), Rs 550 million in Ahmedabad (160,000 sq ft) and Rs 270 million in Chandigarh (90,000 sq ft). “Three of our properties are already operational while the one at Lucknow will stand up by July. In Coimbatore we have acquired 350,000 sq ft and it should be operational by the end of next year. We are yet to identify another property but it could preferably be in the southern region,” Goel said.