Hathway Cable launches IPO

Mumbai: Mumbai based Hathway Cable and Datacom has hit the capital markets today with its initial public offering (IPO). The company has fixed the price band at 240-265 per share. The IPO of 277.5 lakh equity shares of Rs 10 each will close on February 11, 2010, reports Moneycontrol.com.

The aim of the fresh issue is to fund customer acquisitions; invest in the development of digital capital expenditure, services and set top boxes; invest in the development of broadband infrastructure, capital expenditure and services; repayment of loans; and fund expenditure for general corporate purposes.

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The company has got the commitment of 119.76 crore from anchor investors. Anchor investors include Franklin India, DSP Blackrock, Reliance Capital, Copthall Mauritius and Treeline Asia. The issue consists of a fresh issue of up to 200 lakh equity shares by the company and an offer for sale of 72.10 lakh equity shares by Monet and 5.4 lakh equity shares by MSPI Mauritius India. The issue will constitute approximately 19.43 percent of the post-issue share capital of our company.
Morgan Stanley India, UBS Securities and Kotak Mahindra are appointed as the book running lead managers to the issue whereas Link Intime India has been chosen as the registrar.