Shares of cable television and broadband service provider Hathway Cable & Datacom today tanked 13.41 per cent to close at Rs 207.80 on the BSE.
Shares of the company, after opening in the positive territory on the Bombay Stock Exchange, plunged 14 per cent to touch an intra-day low of Rs 206.20, over its issue price of Rs 240 a peice.
The company has entered the capital market with an issue size of 14.28 crore shares. On the National Stock Exchange, the stock plunged 12 per cent to close at Rs 211.
A total of 1.36 crore shares of Hathway Cable & Datacom changed hands on both the bourses. Currently, Hathway has three broad service areas and provides cable TV and broadband Internet services in 13 cities across the nation.
Earlier this month, the initial share sale offer of Hathway Cable & Datacom had got fully subscribed on the final day.
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