Hinduja Ventures Ltd (HVL) on 26th February has decided to invest Rs. 300 crore in IndusInd Media & Communication Ltd (IMCL). Earlier, the investment into IMCL has routed through Grant Investrade, HVL’s wholly owned subsidiary.
The decision to invest fund directly into IMCL will help in expanding the digital base of its cable TV network and effect improvement in services offered to customers.
The company has also decided to invest Rs. 2 crore (Rs 20 million) in Grant Investrade, its investment arm, which holds stake in IMCL.
IMCL has an estimated subscriber base of 85 lakh (8.5 million) across 36 cities. It offers over 350 channels in the digital mode.
As of 31 March 2013, Hinduja Ventures, along with Grant Investrade, holds 61.71 per cent stake in IMCL. IndusInd International Holdings (11.25%), IndusInd Communication (Mauritius) (10.07%), Amas Mauritius (6.92%), IndusInd Bank (5.07%) and IndusInd Channel (Mauritius) (2.70%) are the other key shareholders of the company.
Source: http://cablequest.org/news/cable-news/item/4355-hinduja-ventures-to-invest-rs-300-crore-in-indusind-media.html
Source: http://cablequest.org/news/cable-news/item/4355-hinduja-ventures-to-invest-rs-300-crore-in-indusind-media.html
Source: http://cablequest.org/news/cable-news/item/4355-hinduja-ventures-to-invest-rs-300-crore-in-indusind-media.html
Source: http://cablequest.org/news/cable-news/item/4355-hinduja-ventures-to-invest-rs-300-crore-in-indusind-media.html
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