Hathway Bhawani Cabletel & Datacom Ltd Company Summary

Hathway Bhawani Cabletel & Datacom Ltd Summary

Hathway Bhawani Cabletel & Datacom Ltd acts as a multi system operator providing cable television network, Internet, and allied services in India. The company is engaged in the cable television (CATV) business. The CATV business includes receiving, distributing and transmitting satellite channel programs. The Internet service provider (ISP) business includes providing Internet services through cable. At present, the Company is providing Cable Television Network Services. The company is based in Mumbai. They have a large number of subscribers in Mumbai, New Delhi, Chennai, Bangalore, Hyderabad, Pune, Mysore, Nasik and Ludhiana.Hathway Bhawani Cabletel & Datacom Ltd was incorporated in the year 1984 with the name Seven Heaven Leasing & Finance Ltd. In August 13, 1999, the name of the company was changed from Seven Heaven Leasing & Finance Ltd to Hathway Bhawani Cabletel & Datacom Ltd. In the year 2000, the company formed a joint venture with Star TV to develop and offer interactive media services over their cable network. In September 13, 2000, they received the Category B Internet Service Provider license for Mumbai Circle from the Department of Telecommunications.During the year 2000-01, the company undertook aggressive expansion in Chembur, Sion, Dadar and other parts of Central Mumbai for the development of Cable Business. They invested in latest equipment for upgrading its existing Cable TV Network for improving Cable TV services and also for providing Internet and other value added services to their subscribers.During the year 2001-02, the company commenced the operations of Broadband ISP business. They further invested in the latest equipment to upgrade its existing network with 9 Optical Nodes. In December 2001, they ventured into new territory at just outskirts of Mumbai ie Mumbra. They took over the management of the Head end Control Room of National Dish Service.During the year 2002-03, the company undertook concrete steps in Chembur, Sion, Dadar and other parts of Central Mumbai for the development of cable business. In March 2004, the company was awarded a tender for providing the Cable TV Services to Jawaharlal Nehru Port Trust (JNPT) Township and JNPT Guest House.In April 2004, the company initiated their ISP business in the Hiranandani area at Powai. In May 2004, they entered into arrangements for providing Cable TV services to Hindustan Organic Chemicals Ltd Colony at Rasayani, Raigad. Also, they entered into a joint venture for providing cable services at Khopoli area with effect from June 1, 2004.During the year 2005-06, the company launched the Digital Cable TV Services in their network through the Digital Boxes. In October 2005, they started their Cable TV operation in Karjat. During the year 2006-07, the company implemented the Conditional Access System (CAS) in South Mumbai.A new Subsidiary Company was incorporated in the month of October 2010 for expansion of Company Business in the areas of Mumbra, Viz, Hathway Bhawani NDS Network Private Limited. The Company implemented the DAS plan in 2013. During 2016-17, With effect from April 01, 2017, Company was appointed as a Distributor of Hathway Digital Private Limited (HDPL), the wholly owned Subsidiary Company of Hathway Cable and Datacom Limited (HCDL) in which the entire Cable TV business of HCDL was transferred through slump sale with effect from March 31, 2017. During 2018-19, Jio Content Distribution Holdings Private Limited, Jio Internet Distribution Holdings Private Limited and Jio Cable and Broadband Holdings Private Limited (Acquirers) together with Reliance Industries Limited, Digital Media Distribution Trust, RelianceContent Distribution Limited and Reliance Industrial Investments and Holdings Limited (the PACs) invested in the Holding Company(Hathway Cable and Datacom Limited (HCDL)) to the tune of 71.96 % out of which 51.34% was invested via preferential allotment done by HCDL and the remaining 20.61% was through the Open Offer made to the Shareholders of HCDL. As a result of such investment, there was an indirect investment in Company by the aforesaid Acquirers together with PACs, which triggered a mandatory Open Offer which was made by the Acquirers and PACs. The Acquirers and PACs made an offer to the Public Shareholders of the Company to acquire up to 21,06,000 Equity Shares constituting 26% of the voting share capital, at a price of Rs. 2.46 per share.