Hinduja Ventures has received an approval for investment of up to Rs 2 crore in Grant Investrade, a wholly owned subsidiary of the company. The board of directors at its meeting held on February 26, 2014 has approved for the same.
The board of directors has also reviewed the performance of one of its subsidiary, Induslnd Media and Communications (IMCL) and reiterated its earlier decision to invest Rs 300 crore in the subsidiary company either directly or through its subsidiary.
The capital infusion is happening to take advantage of opportunities thrown up by digital conversion from analogue transmission as mandated by Information and Broadcasting Ministry, Government of India. Phase I and Phase II of the Digital Addressable System (DAS) have already been completed and several consolidation opportunities are coming up in the digital environment in various phases. The capital will be used to expand the digital base of IMCL and to improve customer services.
Hinduja Ventures is the holding company of one of India’s largest integrated media companies ‘IMCL’. With an estimated 8.5 million subscribers across 36 major cities, the company offers over 350 channels in the digital mode.
