MIB grants HITS license to Hindujas

Rejoice came for Grant Investrade, the Investment arm of Hindujas Ventures, as the Ministry of Information and Broadcasting on 6th March has   granted headend-in-the-sky (HITS) license to the company. 

With MIB decision to grant HITS license, Investrade has to pay a non-refundable entry fee of Rs. 100 million to the government. The HITS license will be valid for a period of 10 years.    

Grant Investrade will be the third company to receive a HITS licence, the first two being Essel Group and Noida Software Technology Park Ltd (NSTPL). While Essel Group had to shut its HITS service within a short while, NSTPL is currently the only HITS service provider in the country operating under the JAINHITS brand. 

Confirming the development to media, Hinduja Ventures Ltd group CEO of media and IndusInd Media and Communications Ltd (IMCL) MD and CEO Tony D’Silva said that the company is awaiting few more clearances before it launches its HITS service. 

Grant Investrade will now need clearance from Standing Advisory Committee on Radio Frequency Allocation (SACFA) under the Department of Telecommunications (DoT). After receiving the nod from SACFA, Grant Investrade will have to give a bank guarantee of Rs. 400 million to the MIB. 

After submitting the bank guarantee, the company will sign the grant of permission agreement (GOPA) with the MIB, following which it needs a wireless operational licence (WOL) from the Wireless Planning & Coordination (WPA) wing of the Ministry of IT and Communications. 

While stating that the company is planning to invest $100 million in the HITS project, D’Silva said that the funding mechanism has not yet been finalised. He further stated that the brand name under which the HITS service will be provided has not been decided yet. 

The company plans to offer more than 400 channels to compete with cable TV as well as direct-to-home (DTH) operators. “We need seven to 10 transponders. However, we have not yet signed up with any satellite operator yet,” he revealed. Once it receives the WOL, it can start business as a HITS operator.

Source: http://cablequest.org/news/cable-news/item/4395-mib-grants-hits-license-to-hindujas.html
Source: http://cablequest.org/news/cable-news/item/4395-mib-grants-hits-license-to-hindujas.html