GTPL Hathway makes quiet debut, lists at 1.15% premium

Shares of GTPL Hathway, a cable TV and broadband services provider, on opened at issue price of Rs 170 on the debut day on the NSE, but settled 1.15 per cent higher.

On the National Stock Exchange (NSE), the stock closed at Rs 171.95, up 1.15 per cent over the initial public offering price. Intra-day, it had touched a high of Rs 175 and a low of Rs 162.

The scrip ended at Rs 171.65 on the BSE. It had touched an intra-day high of Rs 174.50 and a low of Rs 162.25.

The stock had opened at Rs 170 on the BSE and the NSE, the same as the IPO price.

GTPL Hathway's Rs 485-crore IPO was subscribed 1.53 times during June 21-23.

The category reserved for qualified institutional buyers (QIBs) was subscribed 1.48 times, non-institutional investors 2.85 times and retail investors 99 per cent.

The IPO comprised fresh issue of shares worth Rs 240 crore and offer for sale of up to 1.44 crore, with the price band of Rs 167-170 a share.

Proceeds from the offer will be utilised towards repayment of loan and other general corporate purposes.

JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities managed the issue.