Grant Investrade Limited, a wholly owned subsidiary of Hinduja Ventures Limited (HVL), has decided to invest Rs 300 crore in the cable distribution business managed by INCableNet and INDigital in India. HVL is the majority shareholder of IndusInd Media & Communications Limited (IMCL), the cable distribution company of the Hinduja Group.
The capital infusion is happening to take advantage of opportunities thrown 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. The capital will be used to expand the digital base of IMCL and to improve customer services.
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