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Tag: NXTDigital

  • 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.

  • NxtDigital launches its broadband-over-satellite solution ‘NxtSkyFi’

    NxtDigital launches its broadband-over-satellite solution ‘NxtSkyFi’

    Mumbai : Media and communications company, NxtdDigital Ltd, has introduced “NxtSkyFi,” a broadband-over-satellite (BOS) service. Over Diwali, the BOS service in Arunachal Pradesh and Nagaland was officially launched in the picturesque town of Tawang. The BOS service will gradually be made available to the rest of India.

    Speaking at a function that was attended by leading dignitaries including in-charge DC of Tawang Rinchin Leta, BJP National Party Minority Morcha leader Tsetan Chombey; DRDA Tawang project director  Tenzin Jambey, and other senior civil servants; 

    DIPRO of Tawang Nawang Chita, lauded NxtDigital for its launch of its BOS service and pointed out, “This launch coincides with a historic day for Arunachal Pradesh. We are proud to have the service inaugurated here. We urge NxtDigital to provide such services that augment the lives of citizens by providing education and so many other digital services – across all of Arunachal Pradesh and the north-east of India quickly.”

    The NxtSkyFi BOS offering is unique in that it is a bundled offering that gives clients access to services like interactive learning, digital movie on demand, over-the-top (OTT) TV, and other online solutions, rather than merely a “passive Internet pipe.” In addition to signing on with top OTT platforms, it has already onboarded two major partners, Tata Studi and Jadooz, to bring infotainment content to the last mile.

    Tata ClassEdge chief business officer at Sachin Torne said, “Tata Studi is an award-winning interactive learning solution founded on the science of learning – giving students access to a highly effective learning method, recommended by learning scientists.”

    Jadooz, a company founded by Padmashree Shobana and veteran media executive Rahul Nehra is focused on interactive big-screen education and entertainment, with a focus on rural and emerging markets. Jadooz has already launched 20 centres in India where NxtSkyFi will partner for its BOS solution.

    NxtDigital chief business officer Sameer Kanse said, “NxtSkyFi is an innovative solution. For retail users it goes beyond uninterrupted internet connectivity to offer real solutions to enrich the lives of customers, through our partnerships. For OTT providers, it leverages our connectivity together with over 1,500 locations-based Edge content delivery network (CDN) solutions to address low latency requirements – enhancing the user experience, facilitating higher subscriber addition and retention. For enterprises, we have a myriad of solutions including bundling BOS with fiber connectivity for optimal reach and cost-efficiency.”

    NxtDigital’s strategy is to use its vast network of over 10,000 digital service partners and presence in over 4,500 pin codes across India to deliver a variety of solutions ranging from education and healthcare to information and entertainment. The BOS solution will be an important component of the company’s national “NXTmesh” network project, which aims to integrate connectivity across India via its own fibre and the vast national fibre network of its partners. The emphasis will continue to be on providing innovative business models and dependable connectivity solutions to its retail and enterprise customers.

    NxtDigital managing director and CEO Vynsley Fernandes pointed out, “The launch of NxtSkyFi is in line with our vision to build out a pan-India network of digital infrastructure to fulfill our government’s objective of a digital and truly ‘connected’ India. This launch fits in with our expanding portfolio of digital TV via fiber and HITS and our terrestrial broadband connectivity which has expanded significantly over the last couple of years.” 

    He added, “The recent launch of our OneDigital product will also ride on the back of our BOS initiative bringing television, broadband, OTT, VoIP, WIFI and CCTV solutions to markets where reliable connectivity is a challenge. The launch of our broadband over satellite service also triggers off the first phase of our relationship with Thaicom – as we look to work together to bring emerging solutions to India.”

    According to the binding memorandum of understanding (MOU) between NxtDigital and Thaicom, the plan is to develop and offer a portfolio of global emerging digital solutions that are critical to the mission of a digital India. Thaicom has already developed and deployed satellite artificial intelligence solutions in other parts of the world, including space-based data technologies for agriculture, disaster relief, and natural resource management, as well as public WIFI systems and drones to supplement rural digital solutions.

    Given India’s heavy reliance on agriculture and the current difficulties in crop management, satellite-based AI will be helpful in providing readily accessible mission-critical data. Additionally, both businesses have decided to establish a Center for Excellence to use artificial intelligence and analytics to develop new satellite and associated digital-based technologies, utilising their respective reputations for deep-tech research and development.

  • NxtDigital launches its flagship integrated solution ‘OneDigital’

    NxtDigital launches its flagship integrated solution ‘OneDigital’

    Mumbai: Hinduja Group’s NxtDigital has announced the introduction of its flagship integrated solution, OneDigital. This customised customer solution provides a wide range of services, including wi-fi, digital TV, OTT, voice/intercom, broadband, and CCTV.

    When compared to broadband packages, which range in speed from 10 mbps to 1 gbps, the TV solution offers clients up to 650 TV channels in both standard and high definition.

    Customers can access over 3,00,000 hours of OTT content from top global and regional platforms through OneDigital on any device.

    Customers can still be reachable over an IP or telecom network and have a personalised landline number with the help of its partners’ VOIP (voice over internet protocol) service, which is available nationwide. ONEDigital may offer customised CCTV solutions and wi-fi-enabled internet access in public spaces as part of the solution.

    Speaking at the launch of OneDigital at SCAT 2022, NxtDigital’s broadband subsidiary OneOTT Intertainment chief operating officer and OneDigital project lead Sanjeev Agarwal said, “Consumer preferences are radically changing in the way they not only consume but also access and engage digital services at home or at work. OneDigital has been designed specifically based on that premise to give customers access to all digital solutions for their home and office through a single business conduit  facilitating true digital convergence and much needed convenience.”

    He further added, “The USP is that this is a bespoke end-to-end solution and can be tailored based on a customer’s specific needs—whether for home or a small, medium, or large business. This is the start and we will, of course, continue to add more products to the OneDigital portfolio over time.”

    The company also unveiled its future OTT content aggregator app, which will enable users to access OTT content from leading local and international platforms.

    The app, which will soon be accessible online, will allow users access to over 3,00,000 hours of international and local material at first and pave the way for the integration of education, gaming, and other apps within the solution.

    The company has already built an ecosystem of partners to provide quality VOIP and CCTV hardware and software solutions. In order to fulfil customer demands from pre-sales and installation to service support and troubleshooting, NXTDIGITAL has started training its digital franchisees throughout its TV and broadband businesses. OneDigital is now being introduced in Mumbai and will be made available in additional significant cities by the end of the year.

    NxtDigital chief operating officer NK Rouse said, “We have over the years built a robust infrastructure, a strong subscriber base, and a national network of franchisees, all backed by best-in-class technology, including our HITS platform and our award-winning NxtHubs.”

    He further added, “OneDigital and NxtPlatly are extensions of our solutions portfolio, focusing on emerging technologies and the need to develop solutions with an eye on the future. We have also commenced training our franchisee partners to make the paradigm shift to digital solutions providers, ready for the next decade of growth that will also include broadband over satellite.”

    The award-winning NxtHubs that NxtDigital owns and operates, which just passed 100 locations and already provide digital TV, broadband, and OTT solutions in the majority of locations, will try to offer one digital solution.

    NxtDigital is hoping to leverage the strength of its planned broadband-over-satellite service to augment the solution in countries where terrestrial connectivity may be an issue.

  • Nxtdigital board approves proposed merger of Hinduja Leyland Finance

    Nxtdigital board approves proposed merger of Hinduja Leyland Finance

    Mumbai: The board of directors of Nxtdigital approved the proposal for a merger with Hinduja Leyland Finance (HLFL) and their respective shareholders, subject to regulatory approval.

    The proposed scheme for the merger of HLFL will come into effect after the on-going scheme of transfer of the “digital media & communications business undertaking” into Hinduja Global Solutions (HGSL) is completed.

    The board also approved the share exchange ratio for the proposed merger. The ratio was approved based on the comprehensive valuation exercise carried out and recommended by two independent valuers, M/s KPMG Valuation Services and M/s SSPA & Co., Chartered Accountants.

    As per the valuation, HLFL shareholders will get 23 fully paid equity shares of a face value of Rs 10 per share in NDL for every ten fully paid equity shares of a face value of Rs 10 each held by them in HLFL.

    The proposed merger, once completed, will fuel the expansion plans of both companies. The proposed scheme is subject to all shareholder and regulatory approvals and the National Company Law Tribunal (NCLT).

  • OneOTT Intertainment CEO Yugal Kishore Sharma moves on

    OneOTT Intertainment CEO Yugal Kishore Sharma moves on

    Mumbai: OneOTT Intertainment (OIL) chief executive officer Yugal Kishore Sharma has chosen to move on after a successful six-year assignment. OneOTT Intertainment is the broadband subsidiary of Nxtdigital.

    Sharma will pursue new ventures in the field of sports and e-sports and nurture Hindustan FC, a football club he has been associated with for several years, said the statement. 

    Sharma has led and built up the broadband business of the media group in India’s fourth-largest private ISP (internet service provider) with over one million subscribers. A telecom industry veteran, Sharma has been instrumental in driving OneOTT Intertainment and building up the various verticals, especially the innovative and highly successful ISP strategic partnership aggregator model.

    “Yugal has played a pivotal role in the significant growth of OIL through his radical thinking, innovative strategies and evolving business models over the years,” said OneOTT Intertainment chairman AK Das. “Today, OIL is a highly respected brand across 150 cities and towns with a very high quality of service, with customer centricity at its core. Much of that credit is attributed to Yugal’s leadership from the front, propelling ONE Broadband into India’s top four private ISPs. We take this opportunity to thank him for his contribution to the growth of the company and wish him all the very best as he pursues his new ventures.”

  • Nxtdigital, Thaicom ink strategic partnership to deploy satellite broadband services in India

    Nxtdigital, Thaicom ink strategic partnership to deploy satellite broadband services in India

    Mumbai: Nxtdigital and Thaicom have signed a deal to form a strategic partnership to enter broadband-over-satellite (BoS) market and related services in India.

    The two companies have signed a binding Memorandum of Understanding (MoU).

    The partnership includes deployment of BoS systems on India-focused capacity, which could be enhanced to provide future additional capacity on a state-of-art software define high throughput satellite; augmenting the existing IPSTAR-1 which is the first broadband satellite in the world and operational over India for several years.

    Thaicom and Nxtdigital will look to provide BoS services immediately in IPSTAR-1 focusing mainly on the rural footprint in India, comprising 60 per cent of Nxtdigital customers through the only HITS (headend-in-the-sky) platform in India.

    “The BoS service will focus on providing cost-effective and quality broadband and will give a tremendous boost to delivering education, information, entertainment, health and other services to these markets,” said the statement.

    The details of partnership elements are being discussed and will be documented in definitive agreements between Thaicom and Nxtdigital.

    “We are delighted to ink this MoU with Nxtdigital, which is easily one of the best digital platforms groups in India,” said Thaicom Public Company chief executive officer Patompob Suwansiri. “With our global satellite experience spanning nearly three decades and Nxtdigital’s distribution expertise, vast footprint and broadband penetration – we believe that together, we are best suited to delivering broadband over satellite and related services to India, not just at a high level of quality of service, but also cost-effectively. Our engagement and investments reflect our commitment to India, where we have had a presence since 2002, offering broadband over satellite since then.”

    “We have always taken our commitment to the government’s digital India mission very seriously,” said Nxtdigital managing director and CEO Vynsley Fernandes. “With HITS, we now cover over 4,500 pin codes across India with a significant presence in not just rural India but also areas where terrain poses challenges to connectivity. Through this engagement with Thaicom, a global leader in satellite technology, we will look to facilitate digital inclusion across education, healthcare, information & entertainment – by extending satellite-based broadband connectivity and services to our customers there and also to the underserved and other poorly connected markets.”

    The two companies will also develop and offer digital solutions for the government that Thaicom has already developed and deployed elsewhere in the world including satellite artificial intelligence solutions comprising space-based data technologies for agriculture, disaster relief & natural resource management public WIFI systems and drones for augmenting rural digital solutions.

    “With India’s significant dependence on agriculture and the incumbent challenges of crop management – the satellite-based AI will help by providing mission-critical data on tap,” said the statement.

    Both companies will also set up a Centre for Excellence to develop new satellite and related digital-based technologies through artificial intelligence and analytics – leveraging deep-tech research and development.

  • National Feather Award: NxtDigital’s NxtHub bags ‘Best Innovative Project of the Year’

    National Feather Award: NxtDigital’s NxtHub bags ‘Best Innovative Project of the Year’

    Mumbai: The prestigious National Feather Award for the ‘Best Innovative Project of the Year’ was awarded to NxtDigital Ltd (NDL) for its innovative and future-ready digital NxtHub project at a function here. The NxtHub is a one-stop digital solution – delivering digital TV, broadband, OTT and Wi-Fi.

    The NxtHub concept was designed and rolled out by NxtDigital Ltd, the media vertical of the global Hinduja Group and India’s premier integrated digital platforms company, with a presence in digital cable, satellite (Hits), broadband, Wi-Fi, content and OTT distribution and teleshopping. NDL has a presence in more than 4,500 pin codes, covering over 1,500 cities and towns.

    The NxtHubs are owned and operated by NDL and equipped with the latest technology comprising an ADDS or Advanced Digital Distribution System – with the capability to deliver over 650 Digital TV services received via satellite to Last Mile Owners (LMOs) and their end subscribers. NxtHub’s avant-garde technology, with the plug-and-play model eliminates the need for LMOs to invest in headend and related technology, whilst being able to give their customers, the width and depth of digital services. Expanding the current offering that includes digital video, broadband, OTT and Wi-Fi; these NxtHubs are future-ready to offer a slew of additional digital services to a wider geography.

    NDL has set up over 90 NxtHubs and is in the process of rolling out more, strengthening its footprint across the country to ensure affordable digital services to all, in line with the government’s vision of a ‘Digital India.’

    “NDL has always been at the forefront of innovation, using technology to boost digitisation of our networks and endeavoring to deliver the best to our customers,” stated NDL COO NK Rouse. “Our focus continues to be on strengthening the overall ecosystem by harnessing the convergence of technologies, delivered through a national network of NxtHubs.”

    The NxtHub project is spearheaded by Manoj Agarwal, who is the commercial director at NDL. “This prestigious award reflects our vision and mission of a complete digital transformation. Digital TV, OTT, Wi-Fi and broadband are the start of expanding our digital highway of services that have been developed by NxtDigital,” stated Agarwal.

  • OneOTT Intertainment crosses 1 mn broadband subscribers

    OneOTT Intertainment crosses 1 mn broadband subscribers

    MUMBAI: OneOTT Intertainment (OIL), the broadband subsidiary of NXTDigital (NDL), the media vertical of the global conglomerate, Hinduja Group announced that it has crossed one million wired home broadband subscribers.

    OIL achieved this milestone by adding over 200,000 subscribers in the fourth quarter of the financial year 2021-2022 recording a growth of 65 per cent as compared to the financial year 2020-2021. One Broadband claims to now be India’s fourth-largest private Internet Service Provider (ISP), extending its presence across India.

    The increased competition in this space fuelled by the demand for more online services has triggered consolidation which has benefitted larger ISPs, enabling OIL’s growth inorganically. Commenting on this milestone, OneOTT Intertainment CEO Yugal Kishore Sharma said, “The significant growth trajectory of One Broadband’s high-speed internet connectivity has been achieved by its “available-reliable-affordable” offerings.”

    “Its focussed approach towards predictable proactive customer responsiveness and care has been highly appreciated by subscribers. Internet use has moved beyond browsing and social networking to work-from-home, online Education, OTT Entertainment, e-Gaming, online-Shopping online-Health, e-Governance and others,” he added.

    “At OIL, we have adapted to this consumption surge by doubling our internet capacity on the supply side without passing any additional cost to our consumers to maintain a consistent customer experience during the pandemic,” Sharma stated.

    One Broadband, under its flagship brand, OneGigaFiber claims to offer speeds of up to 1 Gbps on its FTTH (Fibre-To-The-Home) Network.

     

  • NxtDigital board approves merger with Hinduja Leyland Finance

    NxtDigital board approves merger with Hinduja Leyland Finance

    Mumbai: At its meeting on Wednesday, the board of directors of NxtDigital Ltd (NDL) has accorded an in-principle approval for merger of Hinduja Leyland Finance Ltd (HLFL), a non-banking finance company into NDL, subject to all statutory or regulatory approvals and approval of the shareholders.

    The proposed acquisition will result in the merged entity having assets aggregating above Rs 29,000 crore and the shareholders receiving shares pursuant to the share swap valuation. The company will appoint independent valuers to carry out the valuation exercise and submit the report including share exchange ratio.

    A subsidiary of Ashok Leyland, HLFL is one of India’s leading finance NBFCs with an AUM of over Rs 29,000 crore and a pan-India presence in 1,550 locations across 23 states and two union territories. Through a vast network of branches, the company finances a wide range of commercial and personal vehicles, from medium and heavy commercial vehicles, light commercial vehicles and small commercial vehicles to cars, multi-utility vehicles, three wheelers, and two wheelers, as well as various kinds of used vehicles.

    Post the decision to transfer the digital, media and communications business undertaking to Hinduja Global Solutions Ltd, (which is subject to necessary regulatory and shareholder approvals), NDL has been evaluating various proposals in line with its objective of pursuing high growth oriented business opportunities that could bring in incremental value. In line with this commitment to create value for its shareholders, this merger will enable the shareholders of NDL to participate in and be a part of the aggressive growth plans of HLFL.

  • NxtDigital revenue grows 12.8% to reach Rs 807.6 crore in 9MFY2022

    NxtDigital revenue grows 12.8% to reach Rs 807.6 crore in 9MFY2022

    Mumbai: Integrated digital platforms company NxtDigital, the media vertical of Hinduja Group announced its results for the nine month period ending 31 December 2021 and Q3 of FY22.

    The company’s consolidated revenue for the nine months grew by 12.84 per cent to Rs 807.6 crore, up from Rs 715.71 crore for the corresponding period of the previous year. During the same period, the Earnings Before Interest Depreciation and Taxes (EBIDTA) on a consolidated basis was Rs 155.8 crore as against an EBIDTA of Rs 149.81 crore during the corresponding period of the previous year, at a growth of 4.01 per cent.

    The company ended the third quarter with a 10.9 per cent year-on-year growth in EBIDTA at Rs 52.92 crore. It grew by 2.48 per cent over Q2 of this fiscal – after allowing for AGR payment of Rs three crore.

    The company said that its subscription revenues both for digital video and data businesses continued to be completely prepaid thereby generating healthy cash flows.

    NxtDigital also shared that it has paid its debt of Rs 260 crore in line with the objects of the “Rights Issue,” and completed land sale in January 2022 for a consideration of Rs 69.30 crore, reducing debt further by this amount. Debt-to-equity ratio now stands at 1.5, down from over four at the start of the fiscal. The board also reiterated in-principle approval for transfer of the media & entertainment business to Hinduja Global Solutions to fuel its next phase of growth; subject to regulatory and other approvals.

    Vision For NxtDigital

    The company also recorded progress on the acquisition of the digital and media businesses by Hinduja Global Solutions Ltd (HGSL) which is subject to all statutory or regulatory approvals and approval of the shareholders. The move aims to fuel the expansion plans of NDL in the digital space, as it looks to grow its digital portfolio across video, broadband, OTT and WIFI services. The company said that it has also appointed independent valuers to carry out the valuation exercise and will submit a detailed report including the share exchange ratio once ready.

    Post the proposed acquisition, the company said it will review and assess proposals received, to define new business verticals for the future that will be moulded on the same lines, defining a robust roadmap for growth.

    Key Business Drivers For Growth In Q3

    The company said it took several digital initiatives to provide an end-to-end digital user experience for its customers – covering digital video, broadband and OTT services; the success of which is reflected in the growth of its subscriber base across its digital platforms.

    It continued to push its broadband penetration into new markets, expanding its subscriber base, and also launched the first “combo” product that offers offers up to 700 digital television channels + up to 300,000 hours of OTT content from leading international, national and regional OTT platforms + broadband, with speeds up to 1,000 Mbps – all through a single product offering.

    NxtDigital CEO and MD Vynsley Fernandes said, “Our Q3 strategy hinged on leveraging our unique technology, national footprint and our digital product portfolio to adapt to changing customer preferences vis-à-vis consumption of digital services. Whether our broadband push, our roll-out of NXTHUBs nationally or the launch of the first ‘combo’ product covering digital TV, OTT and broadband – our focus was on giving our customers a unique digital user experience.”

    Growth Drivers In Q4

    For Q4, it said the focus will remain on not just rolling out more NXTHUBs but also increasing the product capability that could extend shortly to WiFi and other e-services. “Broadband will remain a key driver for growth, as it continued to proliferate into NxtDigital markets offering currently digital television only. The ‘combo’ product offering nationally and operationalisation of its infrastructure sharing platform further drive growth as the media group continues on its path of digital transformation,” it stated on Saturday.