Hathway Cable IPO opens, gets anchor investors

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The initial public offering (IPO) of Hathway Cable and Datacom, a cable television services provider, has opened for subscription today. The price band is at Rs 240-265 per share. 

The IPO of 277.5 lakh equity shares of Rs 10 each will close on February 11, 2010.

The company has received commitment of Rs 119.76 crore from anchor investors. Anchor investors subscribed for 4.99 million shares at Rs 240/share, a lower price band.

Anchor investors included Franklin India, DSP Blackrock, Reliance Capital, Copthall Mauritius and Treeline Asia.

Applicant	Equity Shares
Franklin India Prima Fund	354,800
Franklin India Opportunities Fund	219,125
Franklin India Prima Plus	695,400
Franklin India High Growth Companies Fund	429,425
Franklin Asian Equity Fund	147,050
Franklin India Smaller Companies Fund	237,625
DSP Blackrock Equity Fund	319,750
DSP Blackrock Balanced Fund	86,775
DSP Blackrock India T.I.G.E.R. Fund	616,600
DSP Blackrock Opportunities Fund	164,425
Reliance Capital Trustee Co. Ltd. A/C Reliance Equity Opportunities Fund	416,675
Copthall Mauritius Investment Limited	416,675
Tree Line Asia Master Fund (Singapore) Pte. Ltd.	890,675

 

 

 

 

 

 

 

 

 

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 limited and 5.4 lakh equity shares by MSPI Mauritius India limited. The issue will constitute approximately 19.43% of the post-issue share capital of our company.

The promoters' holding will be reduced to 66.55% from 77.37%. The issue will close on February 11.

It is the leading cable television services provider in India as well as one of the leading cable broadband services providers (Source: MPA Report). It offers analog and digital cable television services across 125 cities and towns and high-speed cable broadband services across 18 cities.

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

For the period of six months ended on September 2009, it has reported net loss of Rs 35.63 crore and total income of Rs 364.92 crore. It has debt of Rs 443.03 crore on its books.

The book running lead managers to the issue are Morgan Stanley India Company Private Limited, UBS Securities India Private Limited and Kotak Mahindra Capital Company Limited. Link Intime India Private Limited is the registrar.