Hathway Cable raises Rs 100 cr from promoter group entity

Cable services provider Hathway Cable and Datacom has raised closed to Rs 100 crore though allotment of equity shares to a promoter group entity on preferential basis.

"The board of directors of the company... approved allotment of 30,800,000 fully paid-up equity shares... the company to Hathway Investments, an entity forming part of the promoter group, at a price of Rs 32.35 per share aggregating to Rs 99.63 crore on preferential basis," Hathway Cable and Datacom said in a regulatory filing.

The company said, consequent to the preferential allotment, the total shareholding of the promoter/promoter group entities in the company now stands increased from 43.48 per cent to 45.50 per cent.

Shares of Hathway Cable and Datacom were trading 1.32 per cent lower at Rs 18.70 apiece on BSE.