Cable TV

Hathway gets board approval to raise Rs 150.40 crore

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MUMBAI: After getting shareholder nod to raise Rs 300.80 crore at the EGM on 5 September, Multi system operator (MSO) Hathway Cable & Datacom has now announced that its Board of Directors has approved raising of more Rs 150.40 crore through preferential allotment of shares. The announcement was made after a meeting of Board of Directors held today.

 The MSO in a statement on the BSE said, ‘subject to the shareholders and other necessary approvals and compliance with applicable laws and regulations, the issuance of up to 47,00,000 fully paid-up equity  shares of  face value of  Rs 10 each (the  Equity Shares) of  the Company to  the following  investor (as per the list mentioned  below  ), at  a price of Rs 320  per equity share aggregating to Rs 150,40,00,000 (Rupees one hundred fifty crore forty lakh only) by way of a preferential allotment pursuant to the provisions of Section 42 and 62 (l)(c)  of the Companies Act, 2013 and other applicable legal provisions, including but not limited to Chapter Vll of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.’

Hathway will be allotting 47 lakh shares to CLSA Global Market PTE pursuant to preferential allotment for Rs 150.40 crore.

The approval of the shareholders for this issuance and allotment will be sought at an extraordinary general meeting to be held in this regard later.

During the EGM held on 5 September, Hathway had got shareholders approval to raise Rs 300.40 crore. Capital Partners' Smallcap World Fund and Global Small Capitalisation Fund bought a total of 94 lakh shares for the fund raising.

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