ITV

Tag: Macquarie

  • Siti Cable completes QIP; allots shares to QIBs

    Siti Cable completes QIP; allots shares to QIBs

    MUMBAI: Confidence, it appears is returning to select cable TV counters, the slow pace of digitization despite.

     

    The Essel Group owned national MSO Siti Cable Network’s long-standing effort to raise funds through a qualified institutional placement (QIP) successfully closed today.

    The company informed the Bombay stock exchange (BSE) late in the evening that its QIP Committee had allotted 6,31,74,540 shares on receipt of  Rs 221.11 crore from a group of qualified institutional bodies (QIBs) .

    The QIP issue for an aggregate amount not exceeding Rs 250 crore commenced on 27 February 2015 and closed on 4 March. The issue was made a premium of Rs 34 per Rs 1 share which was a discount of Rs 1.41 on the floor price.

    The Siti Cable counter had spurted to a 52 week high of Rs 38.50 on 4 March.

     

    Siti Cable informed the BSE that the QIBs who were allotted shares through the current QIP  include: Polus Global Fund (1,44,28570 shares); Orange Investments Ltd (34,28,570 shares); HDFC Trustee Co Ltd – HDFC Equity Fund (2,65,33,000 shares) ; HDFC Trustee Co Ltd – HDFC Core and Satellite Fund (15,16,000 shares); HDFC Trustee Co Ltd – HDFC India Tax Saver Fund (35,38,270 shares); Macquarie Asian Markets Emerging (15,00,000 shares); Reliance Capital Trustee Co (42,85,710 shares); Copthall Mauritius Investments (52,96,280 shares); and Morgan Stanley Asia Pacific (26,48,140 shares).

  • BBC kicks off sale process for BBC Resources

    MUMBAI: UK pubcaster The BBC has announced today that the process for the sale of its commercial subsidiary, BBC Resources has begun and an advertisement is to appear in the Financial Times, Times and UK trade magazine Broadcast on Thursday, 16 August. The sale is subject to the necessary approvals by the BBC’s Executive Board and the BBC Trust.

    BBC Resources provides broadcast production facilities and services, and consists of three divisions: BBC Outside Broadcasts, BBC Studios and BBC Post Production.

    The sale comes as a result of the Commercial Review whereby the Corporation reviewed all its commercial businesses. The Commercial Review team concluded that the BBC should only own commercial businesses that either export or exploit the BBC brand or content; whilst the services provided by BBC Resources are vital to the BBC, they do not need to be owned by the BBC anymore.

    The BBC has already sold BBC Broadcast to Macquarie. The BBC believes that the combination of BBC Resources under new commercial ownership and a continued partnership with the BBC will mean the Corporation can leverage its strong relationship and heritage with BBC Resources.

    A new owner will provide the profitable and cash generative business with further opportunities for growth, which are not available whilst it is owned by the BBC, balanced with the stability of ongoing contracts with the BBC.

    BBC Worldwide CEO John Smith says, “We are committed to getting the best value for the BBC and licence fee payers, whilst putting staff interests at the heart of the process.”

    BBC project director Andrew Thornton who is leading the sale says, “This is a unique opportunity for any potential bidder; it’s not everyday such a treasure trove of outstanding expertise and skills comes on the market. We are looking for a partner that will nurture this and continue to work closely with us to provide the unrivalled quality of services we need, as well as to capitalise on this in the wider industry.”

    BBC Resources CEO Mike Southgate said, “BBC Resources is full of talent, with a world-class reputation for understanding production values and programme making, both at the BBC and across the media marketplace. Taking our BBC heritage, the sale offers us the chance to grow the business and continue to lead the rapid changes taking place.”

    It is expected that the sale of the business and transfer of BBC Resources staff to the successful bidder will take place by the end of March 2008, subject to contract negotiations and approvals.

    The BBC recognises the importance of staff in the sale process and says that it will fully consult with the Unions and work closely with staff to achieve a smooth transition during this process.