Reliance in Talks to Acquire Stakes in GTPL Hathway

- Advertisement -

Reliance Industries is ready to ramp up the Cable TV and broadband game in India by acquiring one of the leading network providers

Reliance is in talks to buy a majority stake in one of India’s leading Cable TV and broadband service providers, GTPL Hathway. Earlier, the company had announced that it would invest Rs 2,940 crore in Hathway to acquire a 51.3 per cent stake, which would, in turn, provide a 19 per cent stake in GTPL Hathway as it owned around 37.3 per cent in the service.

- Advertisement -

Open offer

The acquisition plan has been reported to benefit Reliance JioGigaFiber that is targeted to connecting around 50 million homes across 1100 cities. It has been reported that Reliance Industries has made an open offer of up to 25.64 per cent of Hathway at a price of Rs 82.65 per share, amounting to about Rs 238.37 crore. However, industry experts have opined that shareholders are sceptical about the offer.

GTPL Hathway

The Cable TV and broadband service provider has around 20,000 local cable operators and a strong 7.6 million subscribers in India. It has a presence mostly in Gujarat and West Bengal apart from the other 11 states across the country. Its latest figures indicate around 290,000 broadband subscribers. It generated a revenue of Rs 1,113.4 crore and a net profit of Rs 61.4 crore in the last fiscal.

Acquisition benefit

Reliance Industries will gain around 20,000 local cable operators that are directly associated with Hathway. Moreover, the acquisition will also bring Hathway’s cable TV and broadband subscribers under the Reliance Industries’ wing.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Redington’s Renewable Portfolio Enhanced With New Solar Program

0
To accelerate the solar power adoption by homes and businesses, the company has launched Solar Rooftop Partner Program The leading tech company Redington Ltd recently...

The SIDM Champion Award 2022 goes to: CoreEL!

0
On Sep 27th 2022, the India-based tech-company CoreEL received the Society of Indian Defence Manufacturers (SIDM) Champion Awards 2022. Country's Raksha Mantri Shri Rajnath...

Exclusive

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Redington’s Renewable Portfolio Enhanced With New Solar Program

0
To accelerate the solar power adoption by homes and businesses, the company has launched Solar Rooftop Partner Program The leading tech company Redington Ltd recently...

The SIDM Champion Award 2022 goes to: CoreEL!

0
On Sep 27th 2022, the India-based tech-company CoreEL received the Society of Indian Defence Manufacturers (SIDM) Champion Awards 2022. Country's Raksha Mantri Shri Rajnath...

Important Sectors

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Redington’s Renewable Portfolio Enhanced With New Solar Program

0
To accelerate the solar power adoption by homes and businesses, the company has launched Solar Rooftop Partner Program The leading tech company Redington Ltd recently...

The SIDM Champion Award 2022 goes to: CoreEL!

0
On Sep 27th 2022, the India-based tech-company CoreEL received the Society of Indian Defence Manufacturers (SIDM) Champion Awards 2022. Country's Raksha Mantri Shri Rajnath...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Manufacturing

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Redington’s Renewable Portfolio Enhanced With New Solar Program

0
To accelerate the solar power adoption by homes and businesses, the company has launched Solar Rooftop Partner Program The leading tech company Redington Ltd recently...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Apple Making iPhone 14 In India!

0
As per the latest reports, Apple has started manufacturing iPhone 14 in India. Foxconn’s Sriperumbudur facility situated on the outskirts of Chennai is the...