The media and communication arms have been tallying up losses for the last few years, the group started to consolidate its HITS and Broadcaster and DAS services via demerger and mergers.
The restructuring of its media and communication business will enable the group to expand its digital offerings in the rural market and reach of the group’s entire product portfolio to smaller towns and cities. The board of directors of Hinduja Ventures approved integration of IndusInd’s Media and Communications (IMCL – demerged company) with Hinduja Ventures.
Hinduja Ventures Ltd (HVL) – is a listed public company incorporated in the year 1985 is in the business of Media & communication, Real Estate, Treasury & Investment, through its various subsidiaries and also have dark Fibre Leasing business and close to 4,000 km of underground and overhead Dark fibre network across the country and also engaged in the business of high sea sale of set-top boxes.
IndusInd Media and communication Ltd (IMCL) is a public limited company and is a multi-system operator (MSO) engaged primarily in the operation and distribution of television channels through medium of analog, digital and terrestrial satellite cable transmission and distribution network in India.
IMCL is the only largest integrated digital platform operator (DPO) with delivery via digital cable, satellite (‘HITS’). It is the only Company in the country having both the distribution platforms viz as a Multiservice operator (MSO) with Fiber and as HITS, with a Hybrid satellite plus fiber-based network. The NXT Digital and IN Digital are distribution platforms of IMCL. As on 31st March 2019, HVL holds a 77.55% stake in IMCL.
Some Past Transactions
• 2007 - Scheme of Arrangement provides for the transfer by way of demerger of the IT/ITES Business (mainly BPO Business) of the HVL, then known as Hinduja TMT Limited to the HTMT Technologies Limited.
• 2011 - Scheme of Amalgamation of HTMT Telecom Private Limited, a WoS of HVL into HVL.
• 2015 - Scheme of Amalgamation of IDL Speciality Chemicals Limited, a WoS of HVL into HVL.
• 2017 – Scheme of Arrangement between Grant Investrade Ltd., a WoS of HVL and IndusInd Media & Communications Ltd, a subsidiary of HVL for Demerger of HITS Business Undertaking.
• 2018 - Scheme of Amalgamation of Grant Investrade Ltd., a WoS of HVL into HVL.
You can read up to 3 premium stories before you subscribe to Magzter GOLD
Log in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines
READ THE ENTIRE ISSUE