Grant Investrade to invest Rs 300 crore in IndusInd Media!

Grant Investrade Limited (GIL), a wholly owned subsidiary of Hinduja Ventures Limited (HVL), has decided to invest Rs 300 crore in the cable distribution business managed by INCableNet and INDigital in India. HVL is the majority shareholder of IndusInd Media & Communications Limited (IMCL), the cable distribution company of the Hinduja Group.

The capital infusion is happening to take advantage of opportunities thrown by digital conversion from analogue transmission as mandated by Information and Broadcasting Ministry, Government of India. Phase I and Phase II of the Digital Addressable System (DAS) have already been completed and several consolidation opportunities are coming up. The capital will be used to expand the digital base of IMCL and to improve customer services.

Hinduja Ventures Limited (HVL) is the holding company of one of India’s largest integrated media companies i.e. IndusInd Media & Communications Limited (IMCL). With an estimated 8.5 million subscribers across 36 major cities, the Company offers over 350 channels in the digital mode. It has a backbone of over 10,000 kms of hybrid fibre optic network through which it also offers broadband services with its national ISP license. IMCL has gone ahead with the first two phases of the digital revolution being ushered in by Governments mandated policy of digitising cable networks. The Digital Addressable System (DAS) was introduced by Government on 1 November, 2012, in phases and offers a unique opportunity to IMCL to make all its subscribers addressable and monetise its subscription revenues manifold. IMCL has planned new services for the digital cable foray, apart from the broadband services such as HD, hybrid STBs for cable and internet and value added services for digital cable.

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