GTPL Hathway plans to raise Rs 485 crore through IPO
DSIJ Intelligence / 21 Jun 2017
The company has planned to raise up to Rs 485 crore through the way of IPO, which includes fresh issue of shares worth Rs 240 crore and remaining through offer for sale of up to Rs 1.44 crore shares.
Initial Public Offering (IPO) of joint venture of cable TV operator GTPL and Hathway will open for subscription on June 21 and close on June 23, 2017. On Tuesday, the company has raised around Rs 145 crore by allotting shares to anchor investors or cornerstone ahead of its IPO.
The IPO issue will follow book building process wherein the price band is set at Rs 167 to Rs 170 per share. Shares are going to list on mainstream exchanges, BSE and NSE. The minimum order quantity stands at one market lot which contains 88 equity shares.
The company has planned to raise up to Rs 485 crore through the way of IPO, which includes fresh issue of shares worth Rs 240 crore and remaining through offer for sale of up to Rs 1.44 crore shares. The funds raised through IPO will be used for the repayment of loan and other general corporate purposes.
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