Leading cable TV and broadband services provider GTPL Hathway, which has concluded Rs 485 crore initial public offer (IPO), will make a debut on stock exchanges tomorrow. The IPO was subscribed 1.53 times during the June 21-23 offer period. 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 shares, with 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 are managing the issue.