Cable TV

Hathway raises Rs 150.40 crore

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MUMBAI: After getting board approval of raising Rs 150.40 crore from preferential allotment of shares on 10 September, the multi system operator (MSO) Hathway Cable & Datacom has now issued a notice on BSE intimating the preferential allotment of 47,00,000 Equity Shares of face value of Rs 10 each of the company to CLSA Global Markets (CLSA).

 “The Board of Directors of the Company at its meeting held on 14 October 2014, have allotted 47,00,000 fully paid-up equity shares of face value of Rs 10 each (the Equity Shares) of the Company to the following allottee at a price of Rs 320 per Equity Share (inclusive of premium of Rs 310 per Equity Share) aggregating to Rs 150,40,00,000 (Rupees one hundred fifty crore forty lakh only) by way of a preferential allotment, ” the company statement said.

“As per the provisions of the ICDR Regulations, the Equity Shares allotted to CLSA Global Markets PTE. Ltd shall be locked in for a period of one year, from the date of receipt of Trading Approval,” the statement added.

After the board meeting, the MSO also revealed that, “Consequent to the Preferential Allotment, the issued, subscribed and fully paid-up Equity Shares of the Company has increased from 16,13,98,900 Equity Shares to  16,60,98,900 Equity Shares. The total shareholding of the promoter/promoter group entities in the company now stands reduced from 44.74 per cent to 43.48 per cent of the expanded share capital.”

After the board meeting held on 9 September, the company had announced raising of 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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