IndusInd Media & Communications Ltd (IMCL),the multi-system operator (MSO) owned by the Hinduja group, eyes a market share of 50 per cent in the cable TV distribution business in Gujarat once it expands its operations with an investment of Rs 150 crore this year. The company is also aiming a turnover of Rs 600 crore in the next two years.
IMCL, popularly known as InCablenet, has earmarked the investment to expand its operations by tying up with local cable operators (LCO) in the state. According to Nagesh Chhabria, chief operating officer, IMCL, "Currently we enjoy a market share of 30 per cent. After our investment of Rs 150 crore for joint ventures with cable operators in the state and with better infrastructure, we aim to conquer a market share of 50 per cent in the state. We also plan to tap the rural markets to increase our customer base."
The company, which is planning an IPO of Rs 500 crore in February 2011, has 80 lakh subscribers across 22 major cities and offers 240 channels in the digital mode. "About 25 per cent of our ads come from Gujarat and the investment will help us conquer the market better help provide direct access to the consumer homes. Besides, we will provide cost effective entertainment to the viewers in Ahmedabad along with 300 digital channels," said Mahesh Shetty vice president, IMCL.
The company has over 6700 kms of hybrid fibre optic networks including over 1200 kms if underground fibre. The company also has businesses in content creation, acquisition and aggregation for TV services. IMCL enjoys 10 per cent market share in India.
