|
In2cable (India)
Ltd., a wholly owned subsidiary
of Hinduja TMT Limited (HTMT), is a "Category A"
(all India) ISP licence holder. It offers its broadband
services under an exclusive arrangement with its group company
IndusInd Media and Communications (IMC), using their existing
cable network across India.
IMC
commenced operations in 1995 and has built up India's largest
cable television (CATV) network. It currently provides
multi-channel transmission services to approximately 4 million
subscribers under the brand name INCableNet, thus ranking
amongst the 12 largest cable TV operators in the world in
terms of subscribers.
In addition to
Mumbai, IMC's network covers 11 major cities in northern,
southern and western India viz: Delhi,Agra, Hyderabad,
Banglaore, Ahmedabad, Nasik, Belgaum, Indore and Nagpur. IMC
is well advanced in its plan for development of Pay TV
platform with Interactive TV/internet capability.
Intel
USA has taken a 3.3% effective equity stake in IMC for
US$49.23 million in May 2000, giving it a benchmark valuation
of US$ 1.5 billion (Rs. 6800 Crores) and making it one of
India's most valuable unlisted companies. The Intel investment
has been routed through Grant Investrade Limited, a
Special Purpose Vehicle, where HTMT holds majority stake.
The proceeds of the
investment are being used for enhancing the broadband
capabilities and expansion to other
cities. |