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Cable TV firm Asianet files for $100m IPO

By Munikoti Rochan

11:15, 23 December 2021

An illustration of an IPO.
Asianet is tapping the stockmarkets to boost its geographical reach across India – Photo: Shutterstock

India’s Asianet Satellite Communications has filed draft papers with the country’s markets regulator for a stockmarket launch.

The provider of broadband internet and digital cable television services is looking to raise some INR7.65bn ($101.7m) from the initial public offering (IPO) of shares.

The offering comprises a fresh issue of equity shares amounting to INR3bn, and an offer for sale of up to INR4.65bn by Hathway Investments, according to the draft red herring prospectus filed with the Securities and Exchange Board of India (SEBI).

Cash will fund expansion

The firm, which started its business in the southern state of Kerala in 1992 as a cable TV provider, has since expanded operations to the states of Tamil Nadu, Karnataka, Telangana, Andhra Pradesh, Maharashtra and, most recently, Odisha.

The company says it intends “to continue to identify other cities and towns in India which have a high potential for fixed broadband penetration”. Some of the funds raised will be used to repay loans.

As of 30 September, Asianet owned and operated 69,758 kilometres of overhead fibre-optic cable, as well as 65,605 kilometres of overhead trunk coaxial cable, which accounted for approximately 91% of its subscriber base in the broadband network, according to a statement emailed to


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Long position overnight fee -0.0196%
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Pandemic boost for business

The Thiruvananthapuram-headquartered firm offers 494 TV channels, including 64 HD channels, on a digital cable platform. They cover several genres including general entertainment, news and sports.

Asianet’s revenue from operations grew 13.12% year on year to INR5.1bn for the financial year through to 31 March 2021, the IPO statement added.

The coronavirus pandemic boosted the broadband business, with the subscriber-base growing from 0.20 million in April 2020 to 0.29 million in March 2021.

Axis Capital and Nomura Financial Advisory and Securities (India) are managers to the IPO.

Read more: Inflation watch – India bans futures trade in key commodities

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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