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Hinduja Ventures’ arm plans to invest Rs 300 crore in cable distribution business

17 Dec 2013 Evaluate

Grant Investrade, a wholly owned subsidiary of Hinduja Ventures is planning to invest Rs 300 crore in the cable distribution business managed by INCableNet and INDigital in India. Hinduja Ventures is the majority shareholder of IndusInd Media and Communications (IMCL), the cable distribution company of the Hinduja Group. This investment will be used to expand its digital base, improve customer services and consolidate the firm’s position in Phase I and II of digitisation.

With an estimated 8.5 million subscribers across 36 major cities, the company offers over 350 channels in the digital mode. It has a backbone of over 10,000 kms of hybrid fiber optic network through which it also offers broadband services with its national ISP license.

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