GTPL Hathway fixes price band for its Proposed IPO
DSIJ Intelligence / 15 Jun 2017
The company's public offer consists of an offer for sale of up to 14,400,000 shares and a fresh issue of equity shares aggregating up to Rs 240 crore.
For its proposed initial public offer (IPO), GTPL Hathway, a part of Hathway Cable and Datacom has fixed the price band between Rs 167 to Rs 170 per equity share. The offer opens on June 21 and closes on June 23.
It is a leading regional Multi-System Operator (MSO) in the country, offering cable television and broadband services. As of September 30, 2016, the company's digital cable TV services reached 169 towns across India, including towns in West Bengal,Gujarat, Madhya Pradesh,Maharashtra, Bihar, Assam, Jharkhand, Telangana, Rajasthan and Andhra Pradesh. The company also has about 5.41 million active digital cable subscribers.
The company's public offer consists of an offer for sale of up to 14,400,000 shares and a fresh issue of equity shares aggregating up to Rs 240 crore.
The proceedings will be used towards repayment of loan and other general corporate purpose. The company now plans to expand both its cable TV and broadband services with newer technology.