Reliance Invests on Hathway and Den Networks to Boost JioGigaFiber

- Advertisement -
- Advertisement -

Reliance Industries is challenging the DTH and telecom service providers by acquiring stakes in Hathway and Den to boost its JioGigaFiber

(Image Source – TechPP)

Reliance has planned to invest over Rs 5,200 crores to acquire controlling stakes in Hathway and Den Networks, two of the largest cable and internet service providers in India. It is eyeing around 66 per cent 51.3 per cent holdings in Den Networks and Hathway respectively. As per a statement, the conglomerate will subscribe to preferential shares and acquire stakes in both the firms.

JioGigaFiber

- Advertisement -

The statement said that the local cable operators, customers and content producers would be benefitted by the deal. By bringing them under the Reliance wing, the company has planned to boost JioGigaFiber, which is a fibre broadband network targeting homes and businesses across 1,100 cities. It also aims to cater to a larger audience through its smart home solutions. Reliance’s new broadband network is considered to pose as a challenge to other telecom providers in the country as it has come up with a whole package of routers and set-top boxes for television

Deal benefit

Reliance and Jio will gain around 27,000 local cable operators that are directly associated with Den and Hathway. Moreover, the14.4 million cable and about 800,000 broadband connections owned by the two companies also will come under the Reliance Industries’ wing.

SEBI norms

The statement by Reliance Industries said that it would be offering stakes to the existing shareholders of both the companies to meet SEBI’s takeover norm, i.e. any entity whose shareholding in a listed company crosses 25 per cent has to offer to acquire another 26 per cent from public shareholders.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Indian PC Market Grows 4% In Q4 2023, Local Manufacturing Efforts Ramp Up

0
IT procurement by enterprises and SMBs, delayed in the first half of 2023, is starting to take place and is expected to accelerate...

“Efficiency In Solar Energy Is More About Investment Rationale Than Resource Limitation”

0
Indian utility-scale solar company SolarArise claims to offer investors long-term, cash-generating assets and anticipates advancements in energy storage technologies to enable 24-hour clean power...

A New Form Factor Of Two Wheelers Takes Shape In India

0
The logistics sector has become India's biggest adopter of electric vehicles. However, attrition due to physical and mental fatigue is alarming for lease and...

Buzz

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

Microsoft announces Pavan Davuluri As Head of Windows and Surface

0
Davuluri has been contributing to the company's collaborations with Qualcomm and AMD in developing custom Surface processors. Microsoft has announced the appointment of Pavan Davuluri...

EDAG, Baier Motors Develop Electric Motorcycle for Africa

0
The Oryx Concept motorcycle, a collaboration between EDAG Group and start-up Baier Motors, is designed to meet the increasing demand in Africa for a...

Important Sectors

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

EDAG, Baier Motors Develop Electric Motorcycle for Africa

0
The Oryx Concept motorcycle, a collaboration between EDAG Group and start-up Baier Motors, is designed to meet the increasing demand in Africa for a...

MNRE Announces Minimum Efficiency Criteria For Thin Film Solar

0
Utility grid- scale power plants using CdTe should have efficiency of 19%.  For rooftop and solar pumping applications efficiency requirement is 18.5% and...

BYD Achieves 7 Million New Energy Vehicles, Last Million In 4 Months

0
BYD has become the first in the world to produce seven million new energy vehicles (NEVs), with the most recent million being manufactured in...

ZF Hits 1,000 CeTrax Lite Electric CV Drives, Boosted by Isuzu Demand

0
Shortly after beginning volume production, Isuzu experienced an increase in demand, driven by its use of the ZF CeTrax lite electric drive in its...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...