The Essel Group, owned by Subhash Chandra, is looking to raise $500 million to fund expansion. Some of the funds will also be used to pay its debt in its companies.
The funds will be used for the Dish TV India Ltd, the DTH operator, multi-system operator (MSO) Siti Cable Network Ltd. as well as and Zee Learn Ltd, says Bloomberg.
The other media companies looking to raise capital include the Network 18 Group and Living Media India Pvt. The company has also reported to have approached various private equity firms for the same.
Dish TV, the biggest DTH services provider, and Siti Cable are expanding as the digital television services are being made mandatory. The advertisement and subscription revenue of the company is forecast to increase 87 per cent by 2015 by a research company.
“There is a heightened interest among investors in two media segments, broadcaster and cable companies, owing to a structural change that’s anticipated in the country through digitization,” Vivekanand Subbaraman, an analyst says according to Bloomberg.
Source: http://cablequest.org/news/cable-news/item/300-bloomberg-says-the-essel-group-to-fund-its-growth-by-raising-$500-mn.html
Source: http://cablequest.org/news/cable-news/item/300-bloomberg-says-the-essel-group-to-fund-its-growth-by-raising-$500-mn.html
Source: http://cablequest.org/news/cable-news/item/300-bloomberg-says-the-essel-group-to-fund-its-growth-by-raising-$500-mn.html
Source: http://cablequest.org/news/cable-news/item/300-bloomberg-says-the-essel-group-to-fund-its-growth-by-raising-$500-mn.html
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