Goldman and Sachs, the global investment company is acquiring 18% stake in cable distribution firm, Den Networks. The investment company is spending USD 110 million in total and the money will be used to fund Den Network’s ongoing digitisation process.
Den Network currently has approximately 5 million digital subscribers using its STB connection. DEN has also installed about 3 million STBs in 24 out of the 38 cities that come under Phase II of India’s digitisation plans. It accounts for 26% of all cable STBs in the Phase II market.
The cable industry in India is growing with the ongoing digitisation occurring in the country and many investment firms are looking to monetise on this growth accordingly. Earlier this month it was announced that Hong Kong-based alternative asset manager, Steadview Capital would be investing USD 15 million in Hathway, one of the top MSOs in India.