GTPL Hathway to buy ACT Group’s cable TV business in ₹36 crore deal
GTPL Hathway said it will acquire the cable TV business of ACT Group in a ₹36.23 crore deal, as part of its strategy to expand its operations.
To this extent, Hathway has entered into a business transfer agreement with seven companies of ACT Group, including ACN Cable, ACT Digital Home Entertainment, Atria Broadband Services, Kable First India, Sri Venkateshwara Digital Home Entertainment, Mandapeta Digital Entertainment, and IB Communications Network, to acquire their cable television business for “an aggregate cash consideration of ₹36.23 crore, by way of slump sale on a going concern basis”, the Reliance Industries Group-controlled firm said in a filing with the National Stock Exchange (NSE) Tuesday.
The abovementioned companies of the ACT Group are engaged in the cable television business across multiple cities in the States of Andhra Pradesh, Telangana, Odisha and Karnataka and currently serve approximately 6 lakh subscribers, as per the filing.
GTPL Hathway said the transaction is aimed at strengthening and expanding its cable television business footprint in southern India.
The acquisition is expected to be completed by September 15, 2026.
