Reliance Industries has announced strategic investment in Den Networks Limited and Hathway Cable and Datacom Limited.
Primary investment of Rs. 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs. 245 crore from the existing promoters for a 66% stake in Den Networks Limited. Primary investment of Rs. 2,940 crore through a preferential issue under SEBI regulations for a 51.3% stake in Hathway Cable and Datacom Limited.
RIL would also make open offers in DEN and Hathway as well as for the following companies as required under SEBI Takeover Regulations: GTPL Hathway Limited, a company jointly controlled by Hathway with 37.3% stake and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway.
These investments and partnerships will create a win-win outcome for the Local Cable Operators (LCOs), Consumers, Content providers and overall eco-system.