By Javed Farooqui
Copyright indiatimes
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Apollo Global Management-backed Aion Capital Partners is preparing to exit Planetcast Media Services Ltd (PMSL), a leading broadcast and digital media technology provider in India and Asia, said people familiar with the matter.Aion is believed to have held talks with a strategic investor for a potential stake sale, though it is unclear if the discussions will lead to a deal, the people said.Aion acquired control of Planetcast in 2017 from Essel Group, Shyam Telecom, and Kubera Partners. At the time, Aion was operating as a joint venture between Apollo Global and ICICI Venture. The JV was dissolved in 2020, leaving Apollo Global as the principal backer.Aion acquired 90.2% in Planetcast, partly through LM Media. After LM Media’s merger with Planetcast, Aion got an effective 84.4% stake.Both Aion and Planetcast declined to comment.Live EventsFounded in 1996, Planetcast offers playout, cloud broadcasting, satellite uplinking, digital distribution, content storage, enrichment and OTT solutions. Its clients include top broadcasters, OTT platforms and content owners across India and Asia.The company expanded its portfolio with acquisitions such as Australia-based Switch Media and Desynova Digital, boosting its OTT and post-production capabilities.For FY25, Planetcast reported provisional consolidated operating income of ₹504.2 crore, up 9% year-on-year. Net profit rose to ₹68.6 crore from ₹40.7 crore in FY24.Recently, credit rating agency Icra placed Planetcast’s bank facilities on watch with negative implications, citing uncertainty over Aion’s exit. The agency noted that while the company enjoys strong liquidity and profitability, a leveraged buyout could weigh on its credit profile.As of March 31, 2025, it had free cash and bank balances of ₹181.6 crore, along with ample working capital headroom.Despite competition and client concentration risks, with top customers accounting for a significant share of revenue, Planetcast has maintained its position in teleport, playout and digital satellite news gathering services.Add as a Reliable and Trusted News Source Add Now!
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Read More News onAion CapitalPlanetcastbroadcast mediaApollo Global ManagementAion Capital PartnersPlanetcast Media Services LtdEssel GroupShyam TelecomKubera Partnersaion
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onAion CapitalPlanetcastbroadcast mediaApollo Global ManagementAion Capital PartnersPlanetcast Media Services LtdEssel GroupShyam TelecomKubera Partnersaion(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
