Grant Investrade to invest Rs. 300 cr in IndusInd Media.

Grant Investrade Ltd., a wholly owned subsidiary of Hinduja Ventures Ltd., will invest Rs. 300 crore in the cable distribution business managed by INCableNet and INDigital in India.

Hinduja Ventures Ltd. is the majority shareholder of IndusInd Media and Communications Ltd., the cable distribution company of the Hinduja Group.

The capital infusion is set to take advantage of the opportunities thrown up by digital conversion from analogue. Phase I and Phase II of the digital addressable system have already been completed, presenting several consolidation opportunities, said an official. Ashok Mansukhani, Whole Time Director at Hinduja Ventures Ltd. (HVL) told Business Line, 'Though Phase II got over recently, the process of consolidation is on. Set top boxes have been installed, but the packaging and the customer preferences are now under consolidation.'

HBL