Hinduja Global Solutions’ Subsidiary To Acquire Majority Stake in Seven Star Balaji Broadband

On April 18, 2024, Hinduja Global Solutions Limited informed in an exchange filing that the company’s subsidiary ONEOTT Intertainment Limited has entered into an agreement to acquire 51% shareholding of Seven Star Balaji Broadband Private Limited.

Details of the Acquisition 

Hinduja Global Solutions Limited’s subsidiary, ONEOTT Intertainment Limited (ONEOTT), in which the company holds a stake of 71.65% (as of FY 2023), is in the business of offering internet services and is the 4th largest wired internet services provider in India. This subsidiary company has signed an agreement to acquire 51% shareholding of Seven Star Balaji Broadband Private Limited. With this, Seven Star will become a step-down subsidiary of Hinduja Global Solutions Limited.

Seven Star Balaji Broadband Private Limited recently acquired the entire business of Seven Star Digital Private Limited, which operates in the internet services space. The approximate revenue of the business taken over is ₹15 crore, and it has approximately 63,000 internet subscribers.

Hinduja Global Solutions stated that the Mumbai region is a high Average Revenue Per Unit (ARPU) market, and getting access to subscribers in such a market would offer important opportunities for growth not just in the provision of pure data services but also in value-added OTT services which is a growing market segment. Seven Star has more than 63,000 subscribers in the Mumbai and Maharashtra region and is a well-known brand name in the internet services space in Mumbai. This investment will significantly push ONEOTT’s business objectives in both customer acquisition and the expansion of value-added services.

ONEOTT is set to acquire a 51% stake in Seven Star for ₹18.36 crore in cash, with an indicative completion period of about 90 days.

About Hinduja Global Solutions 

Hinduja Global Solutions is part of the Hinduja Group. The company is involved in Business Process Management (BPM) and provides voice and non-voice-based services, such as contact centre solutions and back-office transaction processing, worldwide. On April 19, 2024, the share price of Hinduja Global Solutions Ltd opened at ₹823.65, touching the day’s high at ₹827.55, as of 11:42 AM on the NSE.

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