11-15-2008, 06:38 PM
MUMBAI: Wire & Wireless (India) Ltd plans to invest Rs 6.5 billion over the next two years even as it wants to aggressively pursue Headend-In-The-Sky (HITS) in its business model.
WWIL has a capex requirement of Rs 3 billion over the next 12 months while the balance Rs 3.5 billion will be invested subsequently, a senior company executive said.
The demerged cable TV distribution company of Zee hopes to get up to six million subscribers with this Rs 6.5 billion investment.
WWIL has filed with Sebi (Securities Exchange Board of India) and plans to raise up to Rs 4.5 billion through a rights issue. "After Sebi's clearance, we hope to execute the rights issue within 45 to 60 days," the source said.
Out of the Rs 4.5 billion proposed rights issue, WWIL intends to use Rs 2 billion for repaying loans and Rs 346.7 million for acquiring cable TV networks. WWIL will also set aside Rs 1.18 billion to fund its working capital requirement while Rs 119.6 million will be used for setting up the information technology infrastructure.
Source : http://www.indiantelevision.com/headline...nov121.php
WWIL has a capex requirement of Rs 3 billion over the next 12 months while the balance Rs 3.5 billion will be invested subsequently, a senior company executive said.
The demerged cable TV distribution company of Zee hopes to get up to six million subscribers with this Rs 6.5 billion investment.
WWIL has filed with Sebi (Securities Exchange Board of India) and plans to raise up to Rs 4.5 billion through a rights issue. "After Sebi's clearance, we hope to execute the rights issue within 45 to 60 days," the source said.
Out of the Rs 4.5 billion proposed rights issue, WWIL intends to use Rs 2 billion for repaying loans and Rs 346.7 million for acquiring cable TV networks. WWIL will also set aside Rs 1.18 billion to fund its working capital requirement while Rs 119.6 million will be used for setting up the information technology infrastructure.
Source : http://www.indiantelevision.com/headline...nov121.php
