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MUMBAI: GTPL Hathway, India's leading cable TV distribution company reaching an estimated eight million households in 10 states, proposes to open on 21 June an initial public offering of equity shares of face value of Rs. 10 each for cash (including a share premium) comprising a fresh issue of equity shares aggregating up to Rs. 2,400 million and an offer for sale of up to 14,400,000 equity shares - comprising up to 1,136,000 equity shares by Aniruddhasinhji Jadeja, up to 440,000 equity shares by Kanaksinh Rana, up to 5,480,000 equity shares by Gujarat Digi Com Private Limited, up to 7,200,000 equity shares by Hathway Cable and Datacom Limited and up to 144,000 equity shares by Amit Shah (collectively the “selling shareholders”).
The bid will close on 23 June, 2017. The price band of the IPO has been fixed at Rs 167 to Rs 170 per share.
Speaking to Indiantelevision.com, GTPL Hathway head - investor relations Piyush Pankaj said that they planned to increase its cable television subscriber base as well as penetration into the markets. "There are joint venture (JV) companies where we are considering to increase our stake -- (it is a) pipeline where we would need the board's approval," Pankaj said. On stake dilution, Pankaj said that it was a strategic decision by the promoters to dilute only around 25 per cent stake, and not up to 30 per cent. As stated in the official parlance, GTPL Hathway would use the proceeds for debt reduction and general corporate purposes.
The book-running lead managers to the offer are: JM Financial Institutional Securities Limited, BNP Paribas, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited.
http://www.indiantelevision.com/cab...ubs-base-penetration-hike-stake-in-jvs-170614
The bid will close on 23 June, 2017. The price band of the IPO has been fixed at Rs 167 to Rs 170 per share.
Speaking to Indiantelevision.com, GTPL Hathway head - investor relations Piyush Pankaj said that they planned to increase its cable television subscriber base as well as penetration into the markets. "There are joint venture (JV) companies where we are considering to increase our stake -- (it is a) pipeline where we would need the board's approval," Pankaj said. On stake dilution, Pankaj said that it was a strategic decision by the promoters to dilute only around 25 per cent stake, and not up to 30 per cent. As stated in the official parlance, GTPL Hathway would use the proceeds for debt reduction and general corporate purposes.
The book-running lead managers to the offer are: JM Financial Institutional Securities Limited, BNP Paribas, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited.
http://www.indiantelevision.com/cab...ubs-base-penetration-hike-stake-in-jvs-170614
