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Tag: Star Den

  • Assamese channel Prag News engages Kunal Deshamukhya as COO

    Assamese channel Prag News engages Kunal Deshamukhya as COO

    MUMBAI: Prag News – Assam’s oldest news channel – has got a new operational boss. Veteran Kunal Deshamukhya has joined AM Television Pvt Ltd – the company which runs the news channel – as chief operating officer.

    Kunal has been in the television and distribution trade and has in the past worked with Star India, Star Den, BBC Worldwide, GTPL Hathway, Digi Jadoo Broadband and Afghani channel Ariana Radio and TV network. He has had stints with Joyco, Mother Dairy and has also tried his hand at turning entrepreneur.

    Prag News which is beaming off a GSat 30 transponder is owned by chairman & managing director Sanjive Narain.

    A free to air service, it is available on various DPOs including top ones like: Tata Play, Airtel DTH, and Dish TV.

     

  • Budget 2017: From highway to e-way media sector searches for sops

    Budget 2017: From highway to e-way media sector searches for sops

    MUMBAI: The Indian government today unveiled a roadmap for financial year 2017-18 that covers areas from “highways to e-ways” (PM Modi’s words while describing the Union Budget 2017) aimed at “strengthening the hands of the poor”, while looking at further easing doing business by abolishing Foreign Investment Promotion Board and hinting at a new FDI policy. However, for India’s media and entertainment sector, especially the broadcast and cable sector looking to reach the $ 100 million turnover mark, there wasn’t much to cheer about — unless an angel is hiding in the fine prints that are still being deciphered.

    Finance minister Arun Jaitley, while announcing the Budget, has brought in macro-level major financial reforms by slashing tax rates for middle level income groups and opening the FDI floodgates in favour of a rural economy.

    Jaitley’s budget focused on boosting infrastructure and lifting up rural incomes besides bringing in reforms in the financial sector such as the abolition of the FIPB to enable a new policy for FDI. The Indian Railways Catering and Tourism Corporation (IRCTC), one of the world’s biggest e-commerce companies, will be now be listed, Jaitley said, aside from sending out an indirect warning to economic offenders such as Lalit Modi and Vijay Mallya that for for absconders new legislation would be drafted soon.

    But a big thumbs up to the government for allocating Rs. 10,000 crore (Rs 100,000 million) to boost rural fibre optics network to give further leg up to all round digitisation.

    While the fine prints are still being read, some highlights are as follows:

    # The FIPB will be abolished. Further liberalisation in the FDI policy would be done in the next few days. (Star Den, etc to benefit)

    # SANKALP – Rs 4000 crore allotted for market-oriented training. (At least 4 million youth will be provided market-relevant training under Sankalp programme)

    # Cashback scheme – Petrol pumps card payments, launch two more schemes for use of BHIM app

    # In yet another boost for digitisation, the government has removed service tax on e-tickets .

    #IRCTC to be listed.

    # The government proposes to create a payment regulatory board at RBI. (The proposal assumes significance as there is currently no regulator for FinTech companies such as Paytm in India.)

    # Small and Medium enterprises (MSME) to be encouraged. Income tax reduced to 25% from 30% if turnover is up to Rs 50 crore or Rs 500 million.

    # Startups to pay tax on profits for three out of seven years, increased from three out of five years.

    # Under Bharat Net, optic fibre cable has been laid out In 1,55,000 km. (Recent spectrum auctions have removed spectrum scarcity.) Bharat Net allocation at Rs 10,000 crore.

  • Budget 2017: From highway to e-way media sector searches for sops

    Budget 2017: From highway to e-way media sector searches for sops

    MUMBAI: The Indian government today unveiled a roadmap for financial year 2017-18 that covers areas from “highways to e-ways” (PM Modi’s words while describing the Union Budget 2017) aimed at “strengthening the hands of the poor”, while looking at further easing doing business by abolishing Foreign Investment Promotion Board and hinting at a new FDI policy. However, for India’s media and entertainment sector, especially the broadcast and cable sector looking to reach the $ 100 million turnover mark, there wasn’t much to cheer about — unless an angel is hiding in the fine prints that are still being deciphered.

    Finance minister Arun Jaitley, while announcing the Budget, has brought in macro-level major financial reforms by slashing tax rates for middle level income groups and opening the FDI floodgates in favour of a rural economy.

    Jaitley’s budget focused on boosting infrastructure and lifting up rural incomes besides bringing in reforms in the financial sector such as the abolition of the FIPB to enable a new policy for FDI. The Indian Railways Catering and Tourism Corporation (IRCTC), one of the world’s biggest e-commerce companies, will be now be listed, Jaitley said, aside from sending out an indirect warning to economic offenders such as Lalit Modi and Vijay Mallya that for for absconders new legislation would be drafted soon.

    But a big thumbs up to the government for allocating Rs. 10,000 crore (Rs 100,000 million) to boost rural fibre optics network to give further leg up to all round digitisation.

    While the fine prints are still being read, some highlights are as follows:

    # The FIPB will be abolished. Further liberalisation in the FDI policy would be done in the next few days. (Star Den, etc to benefit)

    # SANKALP – Rs 4000 crore allotted for market-oriented training. (At least 4 million youth will be provided market-relevant training under Sankalp programme)

    # Cashback scheme – Petrol pumps card payments, launch two more schemes for use of BHIM app

    # In yet another boost for digitisation, the government has removed service tax on e-tickets .

    #IRCTC to be listed.

    # The government proposes to create a payment regulatory board at RBI. (The proposal assumes significance as there is currently no regulator for FinTech companies such as Paytm in India.)

    # Small and Medium enterprises (MSME) to be encouraged. Income tax reduced to 25% from 30% if turnover is up to Rs 50 crore or Rs 500 million.

    # Startups to pay tax on profits for three out of seven years, increased from three out of five years.

    # Under Bharat Net, optic fibre cable has been laid out In 1,55,000 km. (Recent spectrum auctions have removed spectrum scarcity.) Bharat Net allocation at Rs 10,000 crore.

  • Idea, Star Den among Rs-1200 cr FDI proposals approved; latter to switch to investing biz

    Idea, Star Den among Rs-1200 cr FDI proposals approved; latter to switch to investing biz

    NEW DELHI: Star Den Media Services and Idea Cellular are among the six proposals cleared by the government on Thursday for receiving foreign direct investment (FDI) of around Rs 1,200 crore.

    Other companies that have been cleared are — Sanofi Synthelabo India, Recipharm Participation B.V. Netherlands, Boehringer Ingelheim India Pvt. Ltd, A. Menarini India Private Limited. Six proposals have been deferred for further discussions — Gland Pharma Limited, Flag Telecom Singapore Pte Limited, Crest Premedia Solutions Pvt. Ltd, Scientific Publishing Services Pvt Ltd, You Broadband India Limited and Netmagic Solutions Pvt. Ltd.

    There were a total of 17 proposals recommended by FIPB  in its meeting held on 29 December 2016 headed by economic affairs secretary Shaktikanta Das.

    Idea Cellular Infrastructure Services Ltd’s proposal to take on record the increase of foreign investment in ICISL beyond 50 per cent and allow foreign investment in ICISL up to 67.5 per cent received approval.

    Star Den Media Services’ proposal to discontinue its existing business of providing support services to broadcasters in relation to TV channel distribution business, and thus continue to act only as investing company was also okayed.

    The Finance Ministry on the recommendation of the Foreign Investments Promotion Board has thus given permission to Den only to continue as investing company. Thus, no new foreign investment is involved.

    The committee deferred decision on a proposal by Flag Telecom Singapore Pte Limited Singapore, an indirect wholly owned subsidiary of Reliance Communications (RCOM), India seeking approval to acquire 100 per cent shares of M/s Reliance Global Cloud Xchange Limited which was incorporated in June 2016 by Indian residents.

    A proposal by M/s Crest Premedia Solutions Pvt. Ltd seeking approval for issuance of equity shares to the non-resident shareholders of M/s Springer SBM Holding Ltd., a Mauritius Company under a Scheme of Amalgamation was also deferred. SBM Holding will amalgamate into CPSPL, which is part of the Springer Group of companies.  

    M/s You Broadband India Limited had sought post facto approval for acquisition of 9,79,875 equity shares of its downstream company M/s Digital Outsourcing Private Limited (DOPL) in lieu of issue of 20,58,759 equity shares to its resident shareholders by way of swap of shares but this was deferred today.

    A proposal by Netmagic Solutions Pvt. Ltd for the increase in the shareholding of NTT Communications Corporation, Japan in the company from 81.63 per cent to 100 per cent was deferred, as was a proposal by M/s Scientific Publishing Services Pvt Ltd for issuance of equity shares to the non-resident shareholders of M/s Springer SBM Services Limited, a Mauritius Company under a Scheme of Amalgamation of SBM Services with SPSPL, pursuant to approval of the High Court.

    Also Read :

    Nod to Idea, Star Den & four may fetch Rs 1200 cr FDI; You & Crest proposals deferred

    Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

     

  • Idea, Star Den among Rs-1200 cr FDI proposals approved; latter to switch to investing biz

    Idea, Star Den among Rs-1200 cr FDI proposals approved; latter to switch to investing biz

    NEW DELHI: Star Den Media Services and Idea Cellular are among the six proposals cleared by the government on Thursday for receiving foreign direct investment (FDI) of around Rs 1,200 crore.

    Other companies that have been cleared are — Sanofi Synthelabo India, Recipharm Participation B.V. Netherlands, Boehringer Ingelheim India Pvt. Ltd, A. Menarini India Private Limited. Six proposals have been deferred for further discussions — Gland Pharma Limited, Flag Telecom Singapore Pte Limited, Crest Premedia Solutions Pvt. Ltd, Scientific Publishing Services Pvt Ltd, You Broadband India Limited and Netmagic Solutions Pvt. Ltd.

    There were a total of 17 proposals recommended by FIPB  in its meeting held on 29 December 2016 headed by economic affairs secretary Shaktikanta Das.

    Idea Cellular Infrastructure Services Ltd’s proposal to take on record the increase of foreign investment in ICISL beyond 50 per cent and allow foreign investment in ICISL up to 67.5 per cent received approval.

    Star Den Media Services’ proposal to discontinue its existing business of providing support services to broadcasters in relation to TV channel distribution business, and thus continue to act only as investing company was also okayed.

    The Finance Ministry on the recommendation of the Foreign Investments Promotion Board has thus given permission to Den only to continue as investing company. Thus, no new foreign investment is involved.

    The committee deferred decision on a proposal by Flag Telecom Singapore Pte Limited Singapore, an indirect wholly owned subsidiary of Reliance Communications (RCOM), India seeking approval to acquire 100 per cent shares of M/s Reliance Global Cloud Xchange Limited which was incorporated in June 2016 by Indian residents.

    A proposal by M/s Crest Premedia Solutions Pvt. Ltd seeking approval for issuance of equity shares to the non-resident shareholders of M/s Springer SBM Holding Ltd., a Mauritius Company under a Scheme of Amalgamation was also deferred. SBM Holding will amalgamate into CPSPL, which is part of the Springer Group of companies.  

    M/s You Broadband India Limited had sought post facto approval for acquisition of 9,79,875 equity shares of its downstream company M/s Digital Outsourcing Private Limited (DOPL) in lieu of issue of 20,58,759 equity shares to its resident shareholders by way of swap of shares but this was deferred today.

    A proposal by Netmagic Solutions Pvt. Ltd for the increase in the shareholding of NTT Communications Corporation, Japan in the company from 81.63 per cent to 100 per cent was deferred, as was a proposal by M/s Scientific Publishing Services Pvt Ltd for issuance of equity shares to the non-resident shareholders of M/s Springer SBM Services Limited, a Mauritius Company under a Scheme of Amalgamation of SBM Services with SPSPL, pursuant to approval of the High Court.

    Also Read :

    Nod to Idea, Star Den & four may fetch Rs 1200 cr FDI; You & Crest proposals deferred

    Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

     

  • Nod to Idea, Star Den & four may fetch Rs 1200 cr FDI; You & Crest proposals deferred

    Nod to Idea, Star Den & four may fetch Rs 1200 cr FDI; You & Crest proposals deferred

    MUMBAI: Inter-ministerial body Foreign Investment Promotion Board has okayed six investment proposals, including Idea Cellular and Star Den Media Services expecting an investment of Rs 1,200 crore (USD 176.5 million).

    Idea Cellular Infrastructure Services (ICISL) had filed an application to raise foreign investment level in it to 67.5 per cent. ICISL is a wholly-owned subsidiary of Idea, which has become a foreign-owned firm with more than 50 per cent overseas investment. Star Den Media Services Pvt. Ltd. develops and distributes television, cable, and the related network platforms. It offers a platform for distributing television channels in India through all fixed networks including cable, direct to home, and internet protocol television.

    Other proposals which got a go-ahead are — Sanofi Synthelabo India, Boehringer Ingelheim India, A Menarini India Pvt Ltd and Recipharm Participation. The FIPB, led by the economic affairs secretary Shaktikanta Das, rejected three proposals, including AMP Solar India Pvt Ltd. and six proposals were deferred for further consultation and want of more information.

    Among the proposals deferred were You Broadband India, Crest Premedia Solutions and Scientific Publishing Services.

    Indiantelevision.com had earlier reported that the board will consider 17 foreign investment proposals on 28 December, including that of Star Den Media.

    FIPB had in June this year rejected a proposal of Flag Telecom Singapore, a wholly-owned unit of Reliance Communications (RCom), to set up a telecom subsidiary in India. Flag Telecom reportedly planned to acquire a company, payout for which would have been around US$120 million — in two parts.

    India allows FDI in some of the industry sectors via the automatic route, but, in certain segments that are considered sensitive for the economy and security, the proposals need to be cleared by FIPB first. FIPB had earlier met on 26 September to consider foreign investment proposals, including that of Idea Cellular.

    The Indian government has taken a series of measures in the recent past to give a fillip to foreign direct investment. In the first half of the current fiscal year, the inflows were USD 21.62 billion. FDI increased by 29 per cent to USD 40 billion in 2015-16 as compared to the previous fiscal.

    Also Read:

    Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

    Govt defers decision on FDI for Vodafone to acquire You Broadband

  • Nod to Idea, Star Den & four may fetch Rs 1200 cr FDI; You & Crest proposals deferred

    Nod to Idea, Star Den & four may fetch Rs 1200 cr FDI; You & Crest proposals deferred

    MUMBAI: Inter-ministerial body Foreign Investment Promotion Board has okayed six investment proposals, including Idea Cellular and Star Den Media Services expecting an investment of Rs 1,200 crore (USD 176.5 million).

    Idea Cellular Infrastructure Services (ICISL) had filed an application to raise foreign investment level in it to 67.5 per cent. ICISL is a wholly-owned subsidiary of Idea, which has become a foreign-owned firm with more than 50 per cent overseas investment. Star Den Media Services Pvt. Ltd. develops and distributes television, cable, and the related network platforms. It offers a platform for distributing television channels in India through all fixed networks including cable, direct to home, and internet protocol television.

    Other proposals which got a go-ahead are — Sanofi Synthelabo India, Boehringer Ingelheim India, A Menarini India Pvt Ltd and Recipharm Participation. The FIPB, led by the economic affairs secretary Shaktikanta Das, rejected three proposals, including AMP Solar India Pvt Ltd. and six proposals were deferred for further consultation and want of more information.

    Among the proposals deferred were You Broadband India, Crest Premedia Solutions and Scientific Publishing Services.

    Indiantelevision.com had earlier reported that the board will consider 17 foreign investment proposals on 28 December, including that of Star Den Media.

    FIPB had in June this year rejected a proposal of Flag Telecom Singapore, a wholly-owned unit of Reliance Communications (RCom), to set up a telecom subsidiary in India. Flag Telecom reportedly planned to acquire a company, payout for which would have been around US$120 million — in two parts.

    India allows FDI in some of the industry sectors via the automatic route, but, in certain segments that are considered sensitive for the economy and security, the proposals need to be cleared by FIPB first. FIPB had earlier met on 26 September to consider foreign investment proposals, including that of Idea Cellular.

    The Indian government has taken a series of measures in the recent past to give a fillip to foreign direct investment. In the first half of the current fiscal year, the inflows were USD 21.62 billion. FDI increased by 29 per cent to USD 40 billion in 2015-16 as compared to the previous fiscal.

    Also Read:

    Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

    Govt defers decision on FDI for Vodafone to acquire You Broadband

  • Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

    Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

    MUMBAI: The foreign investment board will consider 17 foreign investment proposals on 28 December, including that of Star Den Media Services and others.

    Star Den Media Services Pvt. Ltd. develops and distributes television, cable, and the related network platforms. It offers a platform for distributing television channels in India through all fixed networks including cable, direct to home, and internet protocol television.

    Other investment proposals include that of Idea Cellular Infrastructure Services, Flag Telecom Singapore Pte Ltd and You Broadband India.

    FIPB had in June this year rejected a proposal of Flag Telecom Singapore, a wholly-owned unit of Reliance Communications (RCom), to set up a telecom subsidiary in India. Flag Telecom reportedly planned to acquire a company, payout for which would have been around US$120 million — in two parts.

    Now, the Foreign Investment Promotion Board, helmed by the economic affairs secretary Shaktikanta Das, is planning to meet on 28 December, 2016. Around 17 proposals would be discussed, a finance ministry meeting notice stated. AMP Solar India, Grand Pvt Ltd. and Sanofi Synthelabo India proposals would also be considered.

    India allows FDI in some of the industry sectors via the automatic route, but, in certain segments that are considered sensitive for the economy and security, the proposals need to be cleared by FIPB first.

    FIPB had earlier met on 26 September to consider foreign investment proposals, including that of Idea Cellular Infrastructure Services.

    The Indian government has taken a series of measures in the recent past to give a fillip to foreign direct investment. In the first half of the current fiscal year, the inflows were USD 21.62 billion. FDI increased by 29 per cent to USD 40 billion in 2015-16 as compared to the previous fiscal.

  • Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

    Star Den, Flag Telecom, You & Idea FDI meet on 28 Dec

    MUMBAI: The foreign investment board will consider 17 foreign investment proposals on 28 December, including that of Star Den Media Services and others.

    Star Den Media Services Pvt. Ltd. develops and distributes television, cable, and the related network platforms. It offers a platform for distributing television channels in India through all fixed networks including cable, direct to home, and internet protocol television.

    Other investment proposals include that of Idea Cellular Infrastructure Services, Flag Telecom Singapore Pte Ltd and You Broadband India.

    FIPB had in June this year rejected a proposal of Flag Telecom Singapore, a wholly-owned unit of Reliance Communications (RCom), to set up a telecom subsidiary in India. Flag Telecom reportedly planned to acquire a company, payout for which would have been around US$120 million — in two parts.

    Now, the Foreign Investment Promotion Board, helmed by the economic affairs secretary Shaktikanta Das, is planning to meet on 28 December, 2016. Around 17 proposals would be discussed, a finance ministry meeting notice stated. AMP Solar India, Grand Pvt Ltd. and Sanofi Synthelabo India proposals would also be considered.

    India allows FDI in some of the industry sectors via the automatic route, but, in certain segments that are considered sensitive for the economy and security, the proposals need to be cleared by FIPB first.

    FIPB had earlier met on 26 September to consider foreign investment proposals, including that of Idea Cellular Infrastructure Services.

    The Indian government has taken a series of measures in the recent past to give a fillip to foreign direct investment. In the first half of the current fiscal year, the inflows were USD 21.62 billion. FDI increased by 29 per cent to USD 40 billion in 2015-16 as compared to the previous fiscal.

  • Den to sell entire stake in Star Den JV to Star

    Den to sell entire stake in Star Den JV to Star

    BENGALURU: Den Networks Limited (Den) has informed the bourses that it has entered into an agreement to sell its entire fifty per cent stake in its joint venture Star Den Media Services Private Limited (Star Den) to its partner Star India Private Limited (Star India). The agreement price for Den’s stake is Rs 40.35 crore. Star owns an equal share in the JV.

    At the time of filing of this report, buoyed the news of the stake sale, Den shares were up 15.20 per cent from the previous close on the Bombay Stock Exchange (BSE), with each equity share having face value of Rs 10 being traded at Rs 95.50 as compared to yesterday’s close rate of Rs 82.90 and a total traded quantity of 2.1 lakh. The intraday high price of the share was Rs 99.20. The share had opened at Rs 83.75 today at the start of the trading day. The 52 week high price of the share was Rs 169 and the 52 week low was Rs 60.50.