SITI Cable Network, the leading Cable Television service provider in India, has achieved the landmark of 4 million digital customers as on March 31, 2014. Encouraged by the significant improvement in the performance in FY13-14 & to support the aggressive growth plan to grow subscriber base to 10 million in FY 14-15, the promoters have invested additional Rs 243.00 crore in the Business.
As per the approval received from Foreign Investment Promotion Board (FIPB) in March 2013 to raise Rs 324.00 crore from promoter entities, the company has already received first tranche Rs 81.00 crore in March 2013 and this is balance tranche fund of Rs 243.00 crore. With this total promoter shareholding rises to 72.82%. The funds will be utilized primarily for Business expansion and to partially reduce debt.
SITI Cable is the only vertically integrated company in the Cable TV Industry and is known for its strong backend systems & processes. Backed by Strong Management team, the company is always on the forefront to harness the latest technology and maintain the healthy commercial relations with its business partners.
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