GTPL Hathway garners Rs 145-cr from anchor investors

GTPL Hathway, which offers cable TV and broadband services, today raised more than Rs 145 crore from anchor investors, ahead of its initial public offering that opens tomorrow.
It has allotted 8,555,294 shares to six anchor investors at a price of Rs 170 per scrip, garnering Rs 145.44 crore, the company said in a statement.
The anchor investors are DB International Asia, Government Pension Fund Global, Acacia Banyan Partners and BNP Paribas Mutual Fund, among others.
The initial share-offer of GTPL Hathway, a part of Hathway Cable and Datacom, will be open for public subscription on June 21 and close on June 23.

The company plans to garner up to Rs 485 crore through the IPO, which comprises fresh issue of shares worth Rs 240 crore and the remaining through OFS of up to 1.44 crore shares in the price band of Rs 167-170 a share.
Proceeds from the IPO 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 will manage the GTPL Hathways public issue. The shares will be listed on BSE and NSE.