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Nxtdigital, Siti Networks Enter Into Infra Sharing Agreement In MSO Space

Shares of Nxtdigital Ltd on Monday settled at Rs 457 apiece on BSE, down 0.10 per cent from the previous close.

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Hinduja Group’s Headend-in-the-Sky platform Nxtdigital and multi-system operator Siti Networks have entered into an infrastructure sharing agreement.

Siti Networks is owned by Subhash Chandra-led Essel Group.

The move, the first of its kind, will have two conventional competitors share Infrastructure, heralding a new era of collaboration in the digital platform space, the companies said in a joint statement.

As part of that Siti Networks (earlier Siti Cable Network) will leverage the HITS infrastructure to provide higher uptime and quality of services to its semi-urban and rural customers and NXT will earn a service fee for sharing its pan-India satellite delivery infrastructure, it added.

“With significant investments in technology, our HITS platform was designed to facilitate MSOs deliver digital content across India. We are happy that SITI Networks has chosen to work with us, sharing our infrastructure to deliver their services in markets where conventional connectivity remains a challenge,” Nxtdigital MD & CEO Vynsley Fernandes said.

Nxtdigital presently has a subscriber base of over five million.

This move is in line with Siti’s strategy of enhancing its operational efficiencies.

Siti will leverage the HITS infrastructure to deliver its signals to its local cable operators (LCOs), thus providing its services to semi-urban and rural subscribers, while also expanding its footprint across the country through satellite.

“SITI has been focusing on enhancing its operational efficiencies. With the Government approving Infrastructure sharing in our domain, this tie-up with NXT DIGITAL is a natural progression and helps us overcome the difficulties of a terrestrial network in some markets through the Headend-In-The-Sky (HITS) approach. Operational efficiencies, along with uninterrupted services, will help improve our customer experience,” Siti Networks CEO Anil Malhotra said.

Both teams have ensured all necessary testing and compliances, he added.

Meanwhile, in a separate filing Nxtdigital on Monday informed stock exchanges that the company in its board meeting scheduled on May 13, 2021, may consider raising funds through the rights issue.

“In the said meeting, the Board may consider inter-alia - the proposal of fundraising by offer and issuance of fully paid-up equity shares of the Company by way of a rights issue to the eligible shareholders,” it said.

HITS is also a mode of delivering channels through a satellite multiplex service that enables customers to pick and choose channels.

Under this regime, an operator receives all pay channels at one centralised location in the country and there they are decoded and re-encrypted and then again uplinked to a satellite.

Shares of Nxtdigital Ltd on Monday settled at Rs 457 apiece on BSE, down 0.10 per cent from the previous close.