Reliance gains tighter grip on DEN with share purchase | Major Businesses | Business
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Reliance Industries Limited (RIL) has increased its controlling share in Indian cable operator DEN Networks to 78%, following clearance for its acquisition of a 66% stake in January.

Reliance Industries Logo.svg 23 JanThree Reliance Jio companies have now increased their holdings in the multi system operator (MSO), increasing the overall stake by 12%, according to disclosures of SEBI Regulations for Substantial Acquisitions of Shares and Takeovers (SAST).

RIL has already been granted clearance to buy its original INR22.9 billion controlling stake in DEN, along with a 51.3% stake for INR29.4 billion in another leading Indian MSO, Hathway Cable and Datacom.

Through the acquisitions RIL will have direct access to Den and Hathway’s 24 million cable-connected homes across 750 Indian cities. This will help smooth the way for the last mile fibre connectivity for the launch of Reliance Jio GigaFiber and JioTV broadband services.

At Reliance Industries’ AGM last year, chairman Mukesh Ambani said Jio GigaFiber would be rolled out to 1,100 cities in India, based on the interest received from each town during the registration period. Interest has proved strong, according to Reliance Industries’ third quarter filings.

The investment in the MSOs will be made by six Special Purpose Vehicles (SPVs) which will be owned and controlled by Digital Media Distribution Trust. Reliance Content Distribution Limited, a wholly-owned subsidiary of RIL, is the sole beneficiary of Digital Media Distribution Trust.

RIL has also become part of the promoter group of GTPL Hathway due to its share acquisition in Hathway Cable and Datacom. The latter holds a 37.5% stake in GTPL.