Hungama Digital plans Rs 50 cr. rights issue for growth

Hungama Digital Media Entertainment plans to raise Rs 50 crore through a rights issue, with the fund infusion expected to be completed by the end of March.

The timely infusion of funds through rights issue remains critical from a credit prescriptive, The Economic Times has reported. The company declined to comment, the report added.

Hungama is backed by Intel Capital Corporation, Bessemer Venture Partners Trusts, XIAOMI Singapore and Rare Enterprises, the investment firm of the late Rakesh Jhunjhunwala.

After the death of Jhunjhunwala, his stake in Hungama was transferred to his wife, Rekha Rakesh Jhunjhunwala.

Hungama is a leading digital entertainment company with interests in music, video and gaming.

Our Events

SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Quote-UnQuote

“This initiative will empower subscribers to pay online and subscribe to the channels they want to watch and get it activated on their TV sets in real-time without any delay. Without needing to undertake any software development, LMOs can approach Mobiezy for their pre-built and pre-integrated solution that uses NXTDigital’s news APIs and can be up and running with their own mobile apps within just a few days.”

RU Ediriwira, Group CTO, NXTDigital Limited

“With the launch of Partnership for Growth 3.0 we intend to expand our network with 40 new NXTHUBs, each offering up to 650 live TV channels and broadband. Our efforts are focused on harnessing the convergence of technologies, developing robust apps and creating new business models that will help the overall ecosystem, delivering the best experience to our subscribers. We hope to achieve a stronger foothold in the rural regions of the country and grow our subscriber base.”

N.K. Rouse, COO, NXT Digital Ltd

“One of the key principles of the Hinduja Group is ‘Partnership for Growth’. After 2.0 saw the launch of HITS to connect LMOs in even the most remote locations through the only satellite-based cable TV platform in India; 3.0 focuses not just on strengthening the overall ecosystem we have built, but harnessing the convergence of technologies – to be delivered through a national network of NXTHUBs. Video and broadband are only the beginning of the digital highway of services that we have developed for roll-out backed by a robust suite of innovative apps developed by service providers exclusively for our LMOs and subscribers.”

Vynsley Fernandes, MD & CEO, NXTDigital Limited

“Wireline broadband is becoming ever more important not only in connecting homes across the country but also small to large enterprises-to the digital economy. The NXTHUBs will be the perfect point-of-presence to offer broadband services to cater to these consumer needs.”

Yugal Kishore Sharma CEO, ONEOTT Intertainment Limited

Amazing and grim battle for survival. Guess it will end up in Supreme Court. All that NCLT asked Zee to do was to file a reply to Invesco petition for a EGM. Now this is getting too serious. So far Invesco has been hammered for demanding an EGM. What is Zee upto? Ofcourse my lawyer community knows better!

Ashok Mansukhani, Corporate Law and Media Law Advocate at Ashokmansukhani Associates

Publications

EXCLUSIVE

Hungama Digital plans Rs 50 cr. rights issue for growth

Leave a Reply Cancel reply

Related Posts

Our Events

Youtube Videos