The share price of Thaicom Public Company Limited (SET: THCOM) rose 5.84% to THB14.50 per share on Friday, a one-month high, after the announcement of its subsidiary obtaining an authorization to provide satellite services over THAICOM satellites in India.
On December 6, 2024, Thaicom Public Company Limited, a leading Asian satellite and space tech company, announced that on 5 December 2024, its 100% owned subsidiary IPSTAR (India) Private Limited (IPSTAR India) has obtained an authorization to provide satellite services over THAICOM satellites in India from the Indian National Space Promotion and Authorization Center, or IN-SPACe, an autonomous nodal agency under Department of Space, Government of India to promote, enable, authorize and supervise non-government entities (NGE) to undertake space activities.
Under the new Indian space policy, IN-SPACe has authorized IPSTAR India to provide satellite-related services using existing THAICOM satellites, THAICOM 4 at 119.5 degrees East and THAICOM 8 at 78.5 degrees East orbital slot. The agency also granted an authorization for Thaicom’s new satellite at 119.5 degrees East, THAICOM 9, the next-generation satellite with software-defined high throughput technology that will be launched in 2025. Thaicom’s satellite services will focus on delivering broadband satellite solutions to enhance India’s digital infrastructure, targeting not only rural markets but also underserved areas with connectivity challenges. This initiative aims to contribute to bridging the digital divide in the region while meet the growing and diverse demand for satellite services in India.
Patompob (Nile) Suwansiri, Thaicom’s Chief Executive Officer, stated that “Thank you IN-SPACe for the trust in granting IPSTAR India the authorization to fully serve satellite services over Thaicom’s satellite networks to the Indian market. This marks a significant milestone for Thaicom, since we have remained dedicated to India as our strategic market. Thaicom has been providing satellite services to the Indian market since 1997, and we are committed to serving India in the long term. We are convinced that our extensive knowledge in the satellite industry and commitment to broadband service delivery will enable us to meet India’s insatiable demand for broadband connectivity.”
