MUMBAI: Digital Outsourcing Pvt. Ltd (DOPL), the cable TV venture of Citigroup Venture Capital-controlled You Broadband and Cable, holds a 66.67 per cent stake in Scod18 Networking.
DOPL had said that it had taken a majority stake in Scod18 but never formally announced its actual holding. The deal in 2008 had enabled DOPL to start its operations in Mumbai as Scod18 is an association of cable TV distributors in the city.
DOPL also holds 76 per cent in Digital Infotainment, a small-sized cable network in Bangalore.
DOPL has also made several last mile acquisitions and smaller networks. The fair value of the net assets taken over by the Company during the period ended 31 March 2008 and year ended 31 March 2009 is Rs 0.53 million and Rs 0.40 million respectively.
The focus of DOPL is to spread digital set-top boxes across its cable TV network.
You Broadband and Cable, which holds 36.24 per cent in DOPL, has filed for an initial public offering (IPO) to raise Rs 3.58 billion. It plans to invest Rs 850 million in DOPL. Invested by means of loans or equity subscription, the amount would be used for purchase of set-top boxes, head-end equipments, software and acquisition of subscribers.
