Financial Daily from THE HINDU group of publications
Wednesday, Sep 25, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 25, 2002 |
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Restructuring Corporate - Restructuring Hinduja TMT may merge media arms Our Bureau
MUMBAI, Sept. 24 HINDUJA TMT Ltd was considering a merger of its media subsidiaries into a single entity which may go in for an initial public offering (IPO) subsequently, its Chairman, Mr Ashok Hinduja, said at the company's annual general meeting today. The media companies of the group include InNetwork Entertainment Ltd, Cable Video India Ltd, IndusInd Entertainment Ltd and IndusInd Media and Communications Ltd. Responding to a shareholder's query, Mr Hinduja, however, said the IPO would be subject to market conditions. The IPO was likely to be made next year, a spokesperson for the company said. However, details of the IPO such as the size of the issue were yet to be worked out, the spokesperson said. Hinduja TMT said it had raised the capacity of its call centre by another 100 customer service representatives. The company currently has 280 seats operational in its call centre.
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