Its net profit stood at Rs 7.6 crore in the year-ago period, the Ahmedabad-based company said in a regulatory filing.
GTPL Hathway's Q1 numbers were in line with estimates. In an interview to CNBC-TV18, Piyush Pankaj, Head-Investor Relations of the company spoke about the results and his outlook for the company.
The GTPL Hathway stock was under pressure on Friday on fears of competitive technology from Reliance Jio. In an interview to CNBC-TV18, Aniruddhasinhji Jadeja, Promoter & MD of GTPL Hathway spoke about the latest happenings.
The stock had a tepid listing as it opened with a loss of more than 1 percent against issue price of Rs 170 on the National Stock Exchange.
The listing price was on expected lines due to tepid response to its public issue and the grey market also indicated gains of Rs 3-5 on debut.
Experts feel the listing price is likely to be around its issue price, given the tepid response to the public issue and grey market premium of around of Rs 2-4 over the IPO price.
The IPO received bids for 3,08,57,728 shares against the total issue size of 2,02,15,966 shares, data available with the NSE showed.
The IPO received bids for 2,87,33,232 shares against the total issue size of 2,02,15,966 shares, data available with NSE till 1545 hours showed.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 69 per cent, non-institutional investors 15 per cent and retail investors 36 per cent.
Given GTPL's weak fundamental performance, competitive intensity and high valuation, the research house recommended investors to avoid the IPO, Centrum said.
In an interview to CNBC-TV18, Aniruddhasinh Jadeja of GTPL Hathway said that debt worth Rs 230 crore will be repaid through IPO proceeds.
The initial share-offer of GTPL Hathway, a part of Hathway Cable and Datacom, will be open for public subscription on June 21 and close on June 23.
Hem Securities has come out with its report on GTPL Hathway. The research firm has recommended to "Avoid " the IPO in its research report as on June 20, 2017.
Aniruddhasinhji Jadeja, Kanaksinh Rana, Gujarat Digi Com Private Limited and Hathway Cable and Datacom Limited are promoters of the company.
Chairman of GTPL Hathway A Jadeja said that 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 bidding in BSE-promoted CDSL's IPO will begin on June 19 and close on June 21, while that of GTPL Hathway, part of Hathway Cable and Datacom Ltd, will be open for public subscription from June 21-23.
The company has fixed price band for the offer at Rs 167-170 per share. Bids can be made for a minimum of 88 equity shares and in multiples of 88 equity shares thereafter.
The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in December and received 'observations' from the regulator on May 12, which is necessary for any firm to launch a public offer.
The public issue comprises fresh issuance of equity shares worth Rs 300 crore and offer for sale of 1.8 crore scrips by the existing shareholders, according to Draft Red Herring Prospectus (DRHP).