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CDSL IPO Research

GTPL Hathway IPO to be opened from today, raised from Anchor Investors 145 million

Digital Cable Company GTPL Hathway IPO will open from today It will be open from today to June 23. The issue size of the IPO is Rs 485 crores.The issue price of the issue is Rs 167-170, while the lot size is 88 shares.GTPL Hathway has raised more than 145 crores from Anchor Investors.GTPL Hathway, cable TV operator GTPL and Hathway have a joint #venture of 50-50.

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GTPL Hathway to raise Rs 480 crore from IPO

GTPL Hathway, a 50:50 joint venture between cable TV operator GTPL and Hathway Limited, would raise Rs 480 crore from the public from an IPO for retiring debt and improving network infrastructure.

Managing Director 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.

He said that the money raised from `Offer for Sale' would be utilised for repaying debt, adding that the balance Rs 240 crore would be utilised for improving the network infrastructure.

The IPO, which opens on Wednesday, has a price band between Rs 167 and Rs 170 per equity share.

Jadeja said that the company enjoyed the highest market share in cable TV connections in Gujarat and was also a major player in Kolkata and Howrah markets.

The company expanded its reach in the states of Maharashtra, Rajashthan, AP, Telegana and Jharkhand.

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