GTPL Hathway on Wednesday said it has fixed the price band between Rs 167 and Rs 170 per equity share for its proposed initial public offering (IPO).
GTPL Hathway on Wednesday said it has fixed the price band between Rs 167 and Rs 170 per equity share for its proposed initial public offering (IPO). Bids can be made for a minimum of 88 equity shares and in multiples of 88 shares thereof. The offer opens on June 21 and closes on June 23. Anchor investors can bid for the shares on June 20. The shares have a face value of Rs 10. The company’s offer comprises a fresh issue of equity shares aggregating up to Rs 240 crore and an offer for sale of up to 1.44 crore shares. The shares will be listed on BSE and NSE. Proceeds from the IPO will be utilised towards repayment of loan and other general corporate purpose. JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities will manage the GTPL Hathway’s public issue.
As of September 2016, GTPL’s digital cable television services reached 169 towns across India, including cities in Gujarat, West Bengal, Maharashtra, Bihar, Assam, Jharkhand, MP, Telangana, Rajasthan and Andhra Pradesh. GTPL provided broadband services primarily in Gujarat and had catered to approximately 10 lakh households. The company is now preparing to expand both cable TV and broadband services by deploying newer technologies.