GTPL Hathway buys ACT's cable TV biz for ₹36 cr, adds 600k subs
Slump-sale acquisition brings ₹164 cr revenue at a modest multiple, diversifying into four states and partially offsetting recent subscriber losses.
— 6 earlier stories on GTPL Hathway Ltd. →What's new
- GTPL acquires ACT Group's cable TV operations via slump sale for ₹36.23 cr.
- Deal adds ~600k subscribers across Andhra, Telangana, Odisha, and Karnataka.
- Acquisition expected to close by September 15, 2026.
Why this matters
This acquisition makes strategic sense for a micro-cap with declining profitability. At about 4.4% of FY26 revenue, the ₹164 cr revenue base cost only ₹36 cr, a modest outlay. It diversifies GTPL's geography and partly recovers lost subscribers.
What we're watching
- Integration costs and subscriber retention post-closing.
- Whether GTPL can stabilize its own subscriber base.
- Impact on debt levels (currently low D/E of 0.20).
The full read
GTPL Hathway is buying the cable TV business of seven ACT Group companies for ₹36.23 crore in cash. The deal adds 600,000 subscribers and ₹164 crore in annual revenue across Andhra, Telangana, Odisha, and Karnataka. That revenue is roughly 4.4% of GTPL's FY26 top line. The price is modest. For a company with ₹675 crore market cap and a 42.8x trailing P/E, this is a measured bet — the cash outlay is small relative to the revenue it brings, and the deal isn't related-party. The acquisition diversifies a footprint that has been losing subscribers and suffering from -217% PAT growth. The open question is whether GTPL can retain those subscribers and integrate smoothly. Hardly a sure thing. But if it can, this is a rare growth catalyst for a micro-cap that badly needs one.
Questions answered
- Why is the deal attractive for GTPL?
- GTPL is paying only ₹36.23 cr for a business generating ₹164 cr in annual revenue. The valuation is attractive, as the source notes a modest outlay relative to revenue.
- How does the acquisition compare to GTPL's size?
- The acquired revenue equals about 4.4% of GTPL's FY26 revenue, and the consideration is 5.1% of GTPL's ₹675 cr market cap — exceeding the micro-cap materiality threshold.
- Which regions does the deal cover?
- The seven ACT Group companies operate in Andhra Pradesh, Telangana, Odisha, and Karnataka — states where GTPL had limited presence.
- When will the acquisition be completed?
- GTPL expects to close by September 15, 2026. The deal is structured as a slump sale on a going-concern basis.
GTPL Hathway Ltd.
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All notes on GTPL →- 23 Jun 2026 · 2:51 PM IST GTPL Hathway buys ACT's cable TV biz for ₹36 cr, adds 600k subs
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