News
Reliance Industries to buy majority stakes in Den Networks, Hathway Cable for Rs 5,230 crore
NEW DELHI: Mukesh Ambani-helmed Reliance Industries on Wednesday said it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore.
The company has announced the following strategic investments:
a) 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 (DEN)
(b) 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 (“Hathway”)
RIL would also make open offers in DEN and Hathway as well as for the following
companies as required under SEBI Takeover Regulations:
(a) GTPL Hathway Limited, a company jointly controlled by Hathway with 37.3% stake
(b) Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway
Reliance is privileged to partner with the Rajan Raheja Group, one of the most respected
business houses in India, and Sameer Manchanda, a first generation entrepreneur,
who have created strong businesses through their business acumen and perseverance.
Reliance has the highest regard for the management teams in the respective companies
and will work with them to further strengthen and improve business operations.
These strategic investments are in furtherance of Reliance’s mission of connecting
everyone and everything, everywhere – always at the highest quality and the most
affordable price and transforming India’s digital landscape. After having taken India to the
top position in the mobile broadband space, Reliance is now committed to take India from
a global rank of 135th to among the top-3 countries in the world on wireline digital
connectivity.
These investments and partnerships will create a win-win outcome for the Local Cable Operators (“LCOs”), Consumers, Content providers and overall eco-system.
Local Cable Operators: Over the last 25 years, India has connected about 175 million homes with basic coaxial cable technology. This has been made possible because of the efforts of hundreds of thousands of LCOs, who operate in every neighborhood of our country.
However, the LCOs have been steadily losing market share because of increasing competition from alternate technologies like Direct-To-Home (DTH). In fact, DTH operators have weaned away over 60 million homes from cable operators who have remained basic TV service providers. With this trend, both the LCO business model and the MSOs are under stress.
Through this transaction, Reliance and Jio will be strengthening the 27,000 LCOs that are aligned with DEN and Hathway to enable them to participate in the digital transformation of India through (a) access to superior back-end infrastructure; (b) tie-ups with content producers; (c) access to latest business platforms to improve business efficiencies and deliver customer experience; and (d) investment in digital infrastructure for connecting customers. And the LCOs will continue to do what they do best – provide localized, intimate, people-friendly and ultra-fast customer services. This will create multiple future opportunities for LCOs as Jio rolls out new services and platforms.
Consumers: In developed countries, more than 95% of homes having a TV also enjoy a fixed-line broadband Internet connection. And fixed-line connectivity in advanced nations is increasingly based on fiber optics. Reliance is committed to bringing similar infrastructure and connectivity for every Indian home, working with all participants in the eco-system including the large and entrepreneurial LCO, content producers and broadcasters.
Jio shall bring JioGigaFiber to more than 50 million homes across 1,100 Indian cities and towns, in the shortest possible time. JioGigaFiber will offer:
a) Ultra High Definition Entertainment on large screen TVs
b) Multi-Party Video Conferencing from the comfort of everyone’s living room
c) Artificial Intelligence, in the form of voice-activated virtual assistants, who obey every command of the consumer
d) Virtual Reality Gaming and Digital Shopping in a magical universe of immersive experiences
e) Smart-Home Solutions, where hundreds of devices like security cameras, home appliances, even lights and switches, can be securely controlled by their owners, from both inside and outside their homes
f) Fixed Mobile Convergence, to offer end-to-end services on an integrated network Consumers in India will have access to best-in-class services at par with the rest of the world.
Content Providers: These investments and the creation of the digital eco-system will open up new channels for content monetization. This will lead to exponential growth for the content producers and broadcasters.
Eco-system: These investments will help in accelerating the march towards Digital India. Reliance will ensure compliance with all the regulatory and statutory requirements at all times and works towards systematic growth of the sector.
Jio has already started work on connecting 50 million homes across 1,100 cities. It will work together with Hathway and DEN and all the LCOs to offer a quick and affordable upgrade to a world-class lineup of JioGigaFiber and Jio Smart-Home Solutions to the 24 million existing cable connected homes of these companies across 750 cities. This will accelerate
Jio’s commitment to connect 50 million homes with JioGigaFiber in the shortest possible time.
“We are glad to join hands with Rajan Raheja and Sameer Manchanda, two of the pioneers in the MSO industry. Our investments in DEN and Hathway create a win-win-win outcome for theLCOs, customers, content producers and the eco-system. With Local Cable Operators now as part of the Jio ecosystem, we look forward to bringing Jio’s advanced JioGigaFiber and Smart Home Solutions to more Indian homes, even quicker. We look forward to welcoming other MSOs and LCOs to be part of this partnership. This will result in growing wireline data connectivity in India and making state-of-the-art highspeed affordable internet and digital services accessible to the widest population in the shortest possible time,”said Ambani.
Further details about the transaction are contained in the Public Announcement issued to the Stock Exchanges. The transactions are subject to customary regulatory and other approvals.
RIL is being advised by JM Financial Limited, Citigroup Global Markets, Khaitan & Co, Cyril Amarchand Mangaldas, AZB Partners and EY LLP on this transaction.
NEW DELHI: Yotta Data Services, an end-to-end Digital Transformation service provider, has announced that its state-of-the-art data centre facility, “Yotta G1”, located in GIFT city, Gandhinagar is ready for service (RFS).
The opening of this data center marks the debut of Yotta in Gujarat and progresses the company’s mission to provide digital services in India’s high-growth markets.
G1 is Yotta’s fifth data center facility in the country. It joins four large operational data centers, two of which, at Navi Mumbai and Greater Noida are part of hyperscale campuses. Yotta G1 is uniquely located inside the International Financial Services Center (IFSC) zone of Gandhinagar’s Gujarat International Finance Tec-City (GIFT city).
G1 represents an investment of more than INR 500 cr. over five years across critical non-IT and IT / Cloud / AI compute infrastructure. The data center has a capacity of over 350 high-density racks and 2 MW power (which can be scaled further as per demand). The facility is designed to meet the most demanding digital needs of its customers, who may be located within GIFT City or anywhere in the world, by seamlessly delivering fault-tolerant facility infrastructure, high-performance Cloud compute and storage infrastructure, advanced physical and cyber security, unmatched connectivity, and steadfast sustainability.
For large global enterprises operating in the GIFT City IFSC zone, the G1 data center functions as a potential data embassy, whereby their data stored is subject to the laws and regulations of their home country, thus allowing them to maintain sovereignty over their data, even when stored in India. By storing data in a physically different location, global enterprises can ensure continuity of operations in case of major disruptions within their borders. The data center’s location also ensures compliance with the IFSC regulations, providing businesses in the zone with distinct advantages like free foreign exchange convertibility, a liberalised regulatory environment, and business-friendly policies. It also helps enterprises adhere to IFSC’s compliance requirements, including being mandated to host their data within the IFSC zone.
Commenting on the announcement, Darshan Hiranandani, Co-founder and Chairman, Yotta Data Services, said, “The state of Gujarat, with GIFT City, has been at the forefront of providing a viable and sustainable platform for global businesses to set up base in India. The setting up of the IFSC zone is a further testament to their vision for financial services companies. We are proud to support this vision of the Gujarat government with a state-of-the-art data center within the IFSC zone, providing the latest and best in cutting-edge technologies to help businesses set up and scale their businesses while also adhering to all regulatory requirements.”
Adding to this, Sunil Gupta, Co-Founder, MD & CEO, Yotta Data Services, said, “Yotta’s G1 marks a pivotal milestone in delivering high-end data center, Cloud, AI compute, storage, connectivity and cybersecurity services to enterprises both on a global and local scale in the Gujarat region. Besides serving the domestic enterprises within and outside GIFT City, our data center shall serve as a potential data embassy for global enterprises, enabling them to adhere to their respective country’s laws while offering a dependable and secure locale for offshore data storage.”
G1 data centre stands distinct in GIFT city for being a data center offering more than just colocation services. True to Yotta’s stature as the end-to-end digital transformation partner of choice for enterprises, G1 brings forth a suite of key features, ranging from advanced data security and customised business solutions to an indigenous hyperscale cloud offering, AI-GPU compute offering, state-of-the-art infrastructure, cybersecurity expertise, seamless integration with managed IT services, 24/7 customer support, cost optimisation, and an overall competitive edge.
This announcement follows on the heels of Yotta’s recent launch of its cloud services – Shakti Cloud and Yntraa Cloud. Powered by NVIDIA’s top-of-the-line GPUs, Shakti Cloud is India’s largest & fastest AI-HPC supercomputer, delivering cutting-edge GPU computing infrastructure, platforms, and services, including Infrastructure as a Service, Platform as a Service, and Software as a Service. Yntraa Cloud, on the other hand, is a truly indigenous hyperscale cloud platform at par with global cloud platforms, offering an exhaustive range of cloud products and services.
NEW DELHI: Domestic contract manufacturer Optiemus Infracom has entered into a joint venture with US-based speciality glassmaker Corning International to set up India’s first manufacturing facility for producing high-quality finished cover glass parts for the mobile consumer electronics industry.
The collaboration between both the companies will help expand India’s electronics manufacturing ecosystem, as the Indian government strengthens its Make in India initiative. As a part of the joint venture, the companies strategically aim to set up a world-class manufacturing facility in India, powered by cutting-edge technologies and processes.
Driven by a shared commitment to innovation and technological excellence, this collaboration will pave the way for the manufacturing of “Made in India” finished cover glass parts for use in mobile consumer electronic devices, and other cover glass applications, to meet the needs of next-generation mobile consumer electronic devices.
The joint venture signifies a powerful synergy between Optiemus’s deep domestic industry and manufacturing knowledge of electronics and telecom market and Corning’s globally-acclaimed expertise in advanced glass technology. By combining these strengths, the joint venture aspires to not only establish cover glass manufacturing capabilities and capacity in India, but also to contribute significantly to the creation of jobs and skill development within India’s thriving technology sector, the companies said in a statement.
Ashok Kumar Gupta, Chairman, Optiemus Infracom, said, “It is a matter of great pride for us to actively contribute to the growing manufacturing ecosystem in the country. With this joint venture, initiated in line with the vision of Hon’ble Prime Minister of India of ‘Make in India’ programme and the “Atmanirbhar Bharat” initiative, we are committed to make available world-class high-quality products for global and local brands.”
“Embarking on this new journey, we intend to emerge as one of the top manufacturers of finished cover glass parts for use in mobile consumer electronic devices in the next five years. Our collective expertise in innovation, design, and manufacturing, will provide holistic solutions for the brands,” Gupta added.
NEW DELHI: Chipset maker MediaTek, which claims to power more than two billion connected devices every year, hosted ‘Catch-up with Tech’ in collaboration with handset brand Infinix on August 28 to share insightful and engaging conversations about the new-age smartphones and innovative technologies powering everyday lives.
The meet-up threw the spotlight on the MediaTek Dimensity Auto, Satellite solutions and Generative AI along with an extensive showcase of newly-launched Infinix Zero 30 5G powered by MediaTek Dimensity 8020, Infinix GT 10 Pro powered by MediaTek Dimensity 8050, and Infinix QLED TV powered by MediaTek.
In terms of specs, the Infinix Zero 30 5G is tailored for young storytellers and creators, featuring the first-ever smartphone to deliver 4K 60fps video recording from its 108 MP OIS rear camera and ultra-high resolution 50MP front camera. The Zero 30 series powered by MediaTek Dimensity 8020 is said to be a game changer for the front camera vlogging experience along with being the slimmest curved AMOLED smartphone in the segment with glass and a vegan leather back panel. It also claims to be one of the most premium-looking devices in the segment.
The event witnessed a panel discussion moderated by Anuj Sidharth, Deputy Director Marketing & Corporate Communications, MediaTek and included expert panelists from Infinix, MediaTek and two renowned professional photographers.
“With the fifth edition of Catch-up with Tech, we aim to bring consumers closer to the technology and enable them to make informed buying decisions based on their diverse needs. In collaboration with Infinix, this meet-up is in-line with MediaTek’s vision of technology democratization and making innovative technology accessible to everyone,” said Anku Jain, Managing Director, MediaTek India. “The MediaTek Dimensity 8020 in Infinix Zero 30 5G brings faster displays, brilliant cameras and ultra-fast performance. Further, MediaTek Imagiq technologies enrich the capture experience by combining dedicated AI, imaging processors and accelerators to provide incredible results,” he added.
Anish Kapoor, CEO, Infinix Mobile India, said, “Featuring India’s first 50MP 4K 60 fps video recording, Infinix Zero 30 5G is primed to redefine smartphone imaging capabilities, setting a new standard for the creators and vlogging enthusiasts. Our collaboration with MediaTek has played a pivotal role in shaping our exceptional smartphone portfolio, and the Zero 30 5G stands as evidence of our unwavering commitment to innovation and delivering unmatched experiences to our users. The display and design of the device represent a leap forward in smartphone technology. As Infinix Zero 30 5G hits the shelves, we are positive that our customers will find this new offering as exhilarating as we do, further empowering creators to capture their story like never before.”
Radhakrishnan Chakyat, a photography evangelist, founder and host of Pixel Viilage, said, “Infinix Zero 30 5G smartphone powered by MediaTek Dimensity 8020 chipset has amazing hardware features, an excellent camera, dual-view video mode and is primed for optimal content creation and saves a tremendous amount of editing time.”
Aarzoo Khurana, a wildlife photographer, said, “Over the last few days, I clicked various pictures and recorded a few videos with the newly-launched Infinix Zero 30 5G powered by MediaTek Dimensity 8020, and the experience has been truly inspiring. Infinix’s smartphone’s OIS feature helps content creators click shake-free pictures and the front camera, which is extremely sharp and detailed, enables content creators to click countless selfies.”
