One of India´s top MSOs, Hathway has allotted over USD 15 million worth of shares to Hong Kong-based alternative asset manager, Steadview Capital. This would enable it keep up with the on-going digitisation process taking place in India.
According to Hathway, it has issued 3,521,000 paid-up equity shares to Steadview Capital Mauritius, LTR Focus Fund and Massachusetts Institute of Technology. Jagat Dave, managing director of Ambit Corporate Finance, the firm that advised Hathway on the transaction said, “The Indian cable industry is going through series of changes thanks to the process of digitisation. There is renewed investor interest in the sector as digitisation is expected to create a lot of value for broadcasters.”
As of June 2013, Hathway had deployed 7 million STBs in the country which includes 1.8 million STBs it deployed in the first quarter of 2013. The Indian government has stated that there is still a requirement of 77 million STBs to successfully complete the process of digitisation.
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