ITV

Tag: Sameer Manchanda

  • DEN seeks Goldman Sachs investment nod from shareholders

    DEN seeks Goldman Sachs investment nod from shareholders

    MUMBAI: Leading Indian multisystem cable TV operator (MSO) DEN Networks –promoted by Sameer Manchanda- which got its board’s nod to issue another 1.58 crore shares at a price of Rs 90 per share to existing investor Goldman Sachs is now seeking shareholder approval for the same through an extraordinary general meeting to be held on 14 October 2016.

    DEN says it will be issuing the preferential shares to Goldman Sachs affiliate firms Broad Street Investments (Singapore) Pte Ltd and MBD Bridge Street 2016 Investments Pte Ltd. The former will subscribe to 1.30 crore shares taking its holding to 4.18 crore shares. Constituting 21.6 per cent of Den Networks equity. The latter will mop up 28.24 lakh shares and a first time investor in DEN its holding will be at 1.46 per cent.

    Once completed the preferential share issue will see the promoters’ shareholding falling from 28.52 per cent to 26.19 per cent; corporate bodies from 11.53 per cent to 10.59 per cent; institutional investors from 22.20 to 20.39 per cent; private corporate bodies from 7.30 per cent to 6.71 per cent and finally the holding of foreign bodies will jump from 22.93 per cent to 29.21.

    DEN Networks has said it will use the $21 million funds to pare down its debt from Rs 852 crore in June 2016 and also expand its broadband business through its subsidiary. The company’s debt stood at Rs 895 crore in March 2016 and at Rs 930 crore in March 2015. Between 31 March 2016 and June 2016, DEN Networks raised Rs 89 crore in debt and repaid Rs 132 crore.

  • DEN seeks Goldman Sachs investment nod from shareholders

    DEN seeks Goldman Sachs investment nod from shareholders

    MUMBAI: Leading Indian multisystem cable TV operator (MSO) DEN Networks –promoted by Sameer Manchanda- which got its board’s nod to issue another 1.58 crore shares at a price of Rs 90 per share to existing investor Goldman Sachs is now seeking shareholder approval for the same through an extraordinary general meeting to be held on 14 October 2016.

    DEN says it will be issuing the preferential shares to Goldman Sachs affiliate firms Broad Street Investments (Singapore) Pte Ltd and MBD Bridge Street 2016 Investments Pte Ltd. The former will subscribe to 1.30 crore shares taking its holding to 4.18 crore shares. Constituting 21.6 per cent of Den Networks equity. The latter will mop up 28.24 lakh shares and a first time investor in DEN its holding will be at 1.46 per cent.

    Once completed the preferential share issue will see the promoters’ shareholding falling from 28.52 per cent to 26.19 per cent; corporate bodies from 11.53 per cent to 10.59 per cent; institutional investors from 22.20 to 20.39 per cent; private corporate bodies from 7.30 per cent to 6.71 per cent and finally the holding of foreign bodies will jump from 22.93 per cent to 29.21.

    DEN Networks has said it will use the $21 million funds to pare down its debt from Rs 852 crore in June 2016 and also expand its broadband business through its subsidiary. The company’s debt stood at Rs 895 crore in March 2016 and at Rs 930 crore in March 2015. Between 31 March 2016 and June 2016, DEN Networks raised Rs 89 crore in debt and repaid Rs 132 crore.

  • Cable TV fraternity celebrates SN Sharma’s rejoining DEN

    Cable TV fraternity celebrates SN Sharma’s rejoining DEN

    DELHI: “The Tiger returns to his DEN” was the cry that went on through the night. It was a gathering of the cable TV fraternity to congratulate and celebrate SN Sharma’s return to the national MSO DEN Networks founded by Sameer Manchanda.

    Among those who attended the party at the Hotel Crowne Plaza in Okhla were about 150 representatives from DEN’s joint ventures in the north, small broadcasters, cable TV operators, industry pioneers, among others. A few of those who made it to the party included: Dr Anil Rastogi, Ravi Singh, Ravi Bali, Romi Shiv, Sanjeev Kapoor, Bhanu, Virender Gaur, among many others.

    The party went on late into the night . The food was lip smacking and everyone had a gala time.

  • Cable TV fraternity celebrates SN Sharma’s rejoining DEN

    Cable TV fraternity celebrates SN Sharma’s rejoining DEN

    DELHI: “The Tiger returns to his DEN” was the cry that went on through the night. It was a gathering of the cable TV fraternity to congratulate and celebrate SN Sharma’s return to the national MSO DEN Networks founded by Sameer Manchanda.

    Among those who attended the party at the Hotel Crowne Plaza in Okhla were about 150 representatives from DEN’s joint ventures in the north, small broadcasters, cable TV operators, industry pioneers, among others. A few of those who made it to the party included: Dr Anil Rastogi, Ravi Singh, Ravi Bali, Romi Shiv, Sanjeev Kapoor, Bhanu, Virender Gaur, among many others.

    The party went on late into the night . The food was lip smacking and everyone had a gala time.

  • DEN Networks takes control of Snapdeal home shopping JV

    DEN Networks takes control of Snapdeal home shopping JV

    MUMBAI: Jasper Infotech CEOs Kunal Bahl and Rohit Bansal are working on getting their ecommerce platform Snapdeal in ship shape by focusing on customer satisfaction and net revenues instead of gross merchandise value (GMV). This follows the march that rivals such as Flipkart and Amazon have stolen from it.

    Getting rid of any diversifications and other assets that are not scaling up is probably part of the fitness plan. And that explains why the company has decided to divest its equity stake in Macro Commerce Private Ltd, which operates the DEN-Snapdeal home shopping channel.

    When it was launched as a 50:50 joint venture with cable TV MSO DEN Networks with much hype last year, Bahl had stated that he was targeting Rs 500 crore in revenues from TV commerce in year one.
    The numbers did not stack up and Snapdeal TV did a turnover of Rs 3.17 crore in 2015 and Rs 28 crore in 2017.

    DEN Network promoter Sameer Manchanda probably has more faith in the home shopping television initiative than Bahl. Hence, late last week DEN informed the Bombay Stock Exchange that it was buying an additional 32.87 per cent stake in the company from Jasper Infotech at a cost of Rs 60 million. Rs 10 million is for purchase of existing shares and Rs 50 million is through a rights issue, which will lead to an infusion of funds into Macro Commerce.

    Post the acquisition, DEN Networks’ shareholding will rise to 82.87 per cent in Macro from the 50 per cent currently.

    The purpose of the deal, the cable MSO says, is to take a controlling stake in the venture, expand the business and effectively manage the operations of the TV channel.

    The market responded well to DEN Networks’ announcement: its shares rose to Rs 94.70 in early morning trades, then dropped to Rs 89.90 – a rise of 0.35 paise over its previous close by day’s end.

  • DEN Networks takes control of Snapdeal home shopping JV

    DEN Networks takes control of Snapdeal home shopping JV

    MUMBAI: Jasper Infotech CEOs Kunal Bahl and Rohit Bansal are working on getting their ecommerce platform Snapdeal in ship shape by focusing on customer satisfaction and net revenues instead of gross merchandise value (GMV). This follows the march that rivals such as Flipkart and Amazon have stolen from it.

    Getting rid of any diversifications and other assets that are not scaling up is probably part of the fitness plan. And that explains why the company has decided to divest its equity stake in Macro Commerce Private Ltd, which operates the DEN-Snapdeal home shopping channel.

    When it was launched as a 50:50 joint venture with cable TV MSO DEN Networks with much hype last year, Bahl had stated that he was targeting Rs 500 crore in revenues from TV commerce in year one.
    The numbers did not stack up and Snapdeal TV did a turnover of Rs 3.17 crore in 2015 and Rs 28 crore in 2017.

    DEN Network promoter Sameer Manchanda probably has more faith in the home shopping television initiative than Bahl. Hence, late last week DEN informed the Bombay Stock Exchange that it was buying an additional 32.87 per cent stake in the company from Jasper Infotech at a cost of Rs 60 million. Rs 10 million is for purchase of existing shares and Rs 50 million is through a rights issue, which will lead to an infusion of funds into Macro Commerce.

    Post the acquisition, DEN Networks’ shareholding will rise to 82.87 per cent in Macro from the 50 per cent currently.

    The purpose of the deal, the cable MSO says, is to take a controlling stake in the venture, expand the business and effectively manage the operations of the TV channel.

    The market responded well to DEN Networks’ announcement: its shares rose to Rs 94.70 in early morning trades, then dropped to Rs 89.90 – a rise of 0.35 paise over its previous close by day’s end.

  • Den denies being taken over by Star India

    Den denies being taken over by Star India

    MUMBAI: In a letter to the stock exchanges, the Sameer Manchanda led Den Network Limited (Den) has denied news item appearing in the Hindustan Times that it is being taken over by Star India.

    A letter signed by the company secretary of the leading Indian MSO Jatin Mahakan to the stock exchanges in India says:

    “This is with reference to the news item appearing in a leading Newspaper entitled ‘Star in News to acquire DEN on June 11, 2016. The company denies the news item and has a policy never to comment on any market speculation.

    We always ensure that the appropriate intimations are provided to the Stock Exchange with respect to material events, information, etc., in terms of the Listing Agreement and as and when the same is bring approved by the Board of Directors of the Company.

    You are requested to take the same on record.”

    Early in May 2016, there were rumours that Siti Cable was likely to take over Den Networks Limited which both companies strongly denied.

    Siti Cable denies acquisition of Den Network

  • Den denies being taken over by Star India

    Den denies being taken over by Star India

    MUMBAI: In a letter to the stock exchanges, the Sameer Manchanda led Den Network Limited (Den) has denied news item appearing in the Hindustan Times that it is being taken over by Star India.

    A letter signed by the company secretary of the leading Indian MSO Jatin Mahakan to the stock exchanges in India says:

    “This is with reference to the news item appearing in a leading Newspaper entitled ‘Star in News to acquire DEN on June 11, 2016. The company denies the news item and has a policy never to comment on any market speculation.

    We always ensure that the appropriate intimations are provided to the Stock Exchange with respect to material events, information, etc., in terms of the Listing Agreement and as and when the same is bring approved by the Board of Directors of the Company.

    You are requested to take the same on record.”

    Early in May 2016, there were rumours that Siti Cable was likely to take over Den Networks Limited which both companies strongly denied.

    Siti Cable denies acquisition of Den Network

  • Siti Cable denies acquisition of Den Network

    Siti Cable denies acquisition of Den Network

    MUMBAI: The Siti Cable Network  management has vehemently denied – through a press release – the correctness of the news item that has appeared in The Economic Times today indicating that it was likely to acquire national MSO DEN Networks.

    Said Siti Cable executive director and CEO V D Wadhwa in the release:  “There are no such developments between Siti Cable and Den Networks and we would not like to comment on the speculative news  being carried out in the media in this regard”.

    The National and the Bombay Stock exchanges had also sought clarifications from Den Networks in the matter. The latter has through  a similar notice  signed by company secretary Jatin Mahajan to the exchange stated that as a policy  it does not comment on any market speculation.

    Siti Cable and Den Networks were responding to the query raised by the bourses about an article that appeared in the business daily that alleged that Siti Cable chairman Subhash Chandra is looking to expand his cable business by acquiring the Sameer Manchanda-promoted Den Networks for Rs 2,000 crore.

     

  • Siti Cable denies acquisition of Den Network

    Siti Cable denies acquisition of Den Network

    MUMBAI: The Siti Cable Network  management has vehemently denied – through a press release – the correctness of the news item that has appeared in The Economic Times today indicating that it was likely to acquire national MSO DEN Networks.

    Said Siti Cable executive director and CEO V D Wadhwa in the release:  “There are no such developments between Siti Cable and Den Networks and we would not like to comment on the speculative news  being carried out in the media in this regard”.

    The National and the Bombay Stock exchanges had also sought clarifications from Den Networks in the matter. The latter has through  a similar notice  signed by company secretary Jatin Mahajan to the exchange stated that as a policy  it does not comment on any market speculation.

    Siti Cable and Den Networks were responding to the query raised by the bourses about an article that appeared in the business daily that alleged that Siti Cable chairman Subhash Chandra is looking to expand his cable business by acquiring the Sameer Manchanda-promoted Den Networks for Rs 2,000 crore.