GTPL Hathway, a 50:50 joint venture between Cable TV operator GTPL and Hathway Limited is listing on the BSE and NSE today. We look at five things to know about the initial public offer.
The firm plans to raise Rs 480 crore via an initial public offer (IPO) for retiring debt and improving network infrastructure. 1.4 crore equity shares would be offloaded as ‘Offer for Sale’ to raise Rs 240 crore and another Rs 240 crore by way of offering fresh equity. The IPO has a price band between Rs 167 and Rs 170 per equity share.

The firm on Tuesday raised more than Rs 145 crore from Anchor Investors, ahead of its initial public offer. 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. 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 which closes on June 23 is being managed by JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities.

The cable TV distribution company has presence in over 169 cities across 10 states in India. It has presence in Maharashtra, Gujarat, Rajasthan, West Bengal, Jharkhand, Bihar, Madhya Pradesh, Andhra Pradesh, Telangana and Assam. The firm is the largest multi system operator in Gujarat with a market share of 67 percent of cable TV subscribers in 2015.

The company offers cable television signals in both digital and analog modes of re-transmission to subscribers, either directly or through affiliated Local Cable Operators (LCOs).

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