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In2cable
(India) Ltd.,
a wholly owned subsidiary of Hinduja
TMT Limited. 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 where HTMT holds majority stake. The proceeds
of the investment are being used for enhancing the broadband
capabilities and expansion to other cities.
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