GTPL Hathway subscribed 1.50 times

Receives bids for 3.02 crore shares

The initial public offer (IPO) of GTPL Hathway received bids for 3.02 crore shares on the third and final day of bidding, as per the data showed on NSE as at 17:30 IST. The IPO was subscribed 1.50 times. The IPO opened for bidding on 21 June 2017 and closes today, 23 June 2017.

Ahead of the opening of the IPO, GTPL Hathway has raised Rs 145.43 crore from anchor investors by selling 85.55 lakh shares. The shares were allotted to the anchor investors at Rs 170 per share, the top end of the Rs 167 to Rs 170 per share price band for the initial public offering (IPO).

The anchor investors include Acacia Banyan Partners, Government Pension Fund Global, DB International Asia and BNP Paribas Mutual Fund, among others.

From the proceeds of the IPO, the company will spend Rs 229 crore for repayment of certain borrowing, and rest for general corporate purpose.

On a consolidated basis, the company's net sales for nine months ended December 2016 stood at Rs 651.93 crore. The net profit stood at Rs 21.40 crore.

GTPL Hathway, promoted by Aniruddhasinhji Jadeja, Kanaksinh Rana, Gujarat Digi Com and Hathway Cable and Datacom, is a leading regional multi system operator (MSO) in India, offers cable television and broadband services.

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