GTPL Hathway files DRHP with SEBI

Hathway Cable & Datacom’s material subsidiary, GTPL Hathway has filed a Draft Red Herring Prospectus with Securities and Exchange Board of India (SEBI) as well as with both the stock exchanges i.e. BSE and NSE.

The MSO, in which Hathway Cable & Datacom owns 50%, is expected to raise around Rs 500 crore. The IPO will include a fresh issue of shares and an offer for sale by existing shareholders. Hathway is looking to sell upto 9 million shares of GTPL through the proposed IPO.

On the financial front, GTPL Hathway’s total revenue has grown by 35.61 per cent to Rs 845 crore in FY16 as compared to the previous financial year. The company’s EBITDA stands at Rs 272 crore in FY16 against Rs 158.6 crore in FY15. Its EBITDA margin has expanded considerably to 31.9 per cent in FY16 as compared to 25.1 per cent in FY15. GTPL has posted a net profit of Rs 69 crore in FY16, which is almost four times the net profit of Rs 16.7 crore in FY15. The company accounted for 14 per cent of the total cable carriage and placement market in India in FY16.