In an interview to CNBC-TV18, Venugopal Dhoot of Videocon Group spoke about the ICICI Bank-Videocon row.
Videocon is set to sell its 51 percent stake in general insurance arm, Liberty Videocon General Insurance. This was first reported by CNBC-TV18 on February 6. Videocon has informed the exchanges about the sale. Roopam Asthana, CEO, Liberty Videocon GIC discussed with Yash Jain about the latest happenings in his company and sector.
Videocon Industries is amongst the 28 companies that have been referred to the bankruptcy code. They have an exposure of over Rs 20,000 crore that the lenders have to Videocon. In an interview with CNBC-TV18, Venugopal Dhoot of Videocon shared his views on the same.
What a dream run it has been for the Indian equity market in 2017 - and who would have thought. If we rewind back and talk about all the gloom and doom that were surrounding us back in December of 2016; demonetisation and impending huge indirect tax reform. Well, the Indian market has come a long way and come on top.
In an interview with CNBC-TV18, Jawahar Goel, Promotor and MD of Dish TV said the average revenue per user (ARPU) for high definition subscribers stood at Rs 384 and sees no inorganic growth plan at this point.
Venugopal Dhoot Chairman of Videocon told CNBC-TV18 says that the cash from the deal will be utilized partly to reduce the company‘s debt and partly for business development.
Videocon Industries plans to demerge its telecom business Videocon Telecom Ltd into six new group companies by circles. In an interview to CNBC-TV18, Arvind Bali, Director & CEO at Videocon Telecom spoke about the latest happenings in his company and sector.
Arvind Bali, Director and CEO, Videocon Telecom says the company was in active discussion with four operators of which three are in advanced stages.
April IIP came in at 4.1% with capital goods output at 11.1. What does this mean for the sector going ahead?
Venugopal Dhoot, CMD of Videocon said the Brazil discovery is 3-4 times more than The Bombay High reserves
Speaking to CNBC-TV18, Venugopal Dhoot, MD, Videocon said the d2h segment is being listed at a premium of 15-16 percent. The EBITDA of the company currently stands at USD 96 million. A revenue growth of more than 20 percent is expected from Videocon d2h.
Videocon consortium announces petroleum discovery in Brazil
The Nasdaq-listed Silver Eagle Acquisition Corp (SEAC) has decided to invest USD 300 million in Videcon‘s direct-to-home arm Videocon d2h for a 33.5 percent stake.
Venugopal Dhoot, chairman and managing director, Videocon, says the company will be issuing shares to LLIC at a premium of Rs 20-25.
According to Venugopal Dhoot, consumption trends continue to remain encouraging though festive demand this year was muted compared to last two years.
The Mumbai-headquartered company currently has a D2H base of around 90 lakh users which is likely to double over the next five years.
The company is not in need of cash as of now, so it is looking to monetize the Brazil oil field.
Speaking to CNBC-TV18, Venugopal Dhoot, chairman and managing director, Videocon says the stake sale will result in a comparatively health balance sheet and good asset cover. The company has Rs 25000 crore worth debt that will come down to Rs 10000 crore post the stake sale.
Bharat Petroleum Corporation Limited (BPCL) is optimistic of more oil quantity of oil reserves from its Brazil's find. RK Singh, its CMD says that the quantum will only be known after the appraisal gets over in 2015.
Videocon will have investors coming in from different fields. Venugopal Dhoot says their partnership with Liberty inspired them to apply for the license.
Videocon Group's Rajkumar Dhoot says, in an interview to CNBC-TV18 after Videocon's sale of stake to ONGC, that the group will continue to operate in the oil sector and is keen on a foray into the banking space.
ONGC Videsh (OVL) and Oil India have inked a pact with Videocon Industries to buy its stake in a Mozambique gas field for USD 2.47 billion. OVL would be looking at a mix of two options to fund the deal - a part would come from ONGC's surplus cash balance and a part would come from external commercial borrowing (ECB).
Senior Supreme Court counsel Harish Salve explains to CNBC-TV18 that it is the end of the judicial road for Videocon and that the court is set to hear the criminal cases on February 25 or 25
Romal Shetty, national leader- telecom, KPMG and Amit Sachdeva, telecom-partner, E&Y explain to CNBC-TV18 that the response to 2G auction is muted and that it would be tough for the government to achieve its revenue target of Rs 40,000 core from the sale of spectrum.
Narendra Taneja, South Asia Bureau Chief of Upstream tells CNBC-TV18 said that although, the Mozambique offshore is supposed to be floating on gas, it is a comparatively new kid on the block with no big history of offshore oil and gas exploration.