Hathway Cables IPO Opens (09-Feb-2010)
Hathway Cables and Datacom, a cable television services provider has entered the main market with initial public offerings of 2.77 crore equity shares of Rs 10 each in the price band of Rs 240-265 per share. This issues is going to be close by February 10, 2010
This issue will add up a share amount of 19.43 per cent of the post issue share capital of the company.
It also provides services like cable broadband to the service providers which have a high speed cable broadband service across 18 cities. Hathway also offers analog and digital cable television services across 125 cities and towns.
The company is in a plan to use the proceeds to fund customer acquisitions, investment in the development of digital capital expenditure, services and set top boxes as well as investment in the development of broadband infrastructure, capital expenditure and services; repayment of loans; and fund expenditure for general corporate purposes.
Hathway has issued 51.91 lakh shares to anchor investors at floor price of the IPO at Rs 240 per share.
According to the investment made, these investors have so far subscribed to shares worth Rs 119.76 crore. Main anchors investors include DSP BlackRock India T.I.G.E.R Fund, Franklin India Prima Plus and Reliance Equity Opportunities Fund.
The company has reported net loss of Rs 35.63 crore and total income of Rs 364.92 crore for the six months ended September 2009. It is under the debt of Rs 443.03
The main running lead managers to the issue are UBS Securities India Private Limited and Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited.
Therefore, Link Intime India Private Limited is the registrar.
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