Hathway likely to fix IPO price band at Rs 240-265

MUMBAI: Hathway Cable & Datacom is planning to raise Rs 7.35 billion through an initial public offering (IPO), making it the most valued cable TV company in the country.

Hathway is looking at an upper price band of Rs 265 per share, according to a source familiar with the development.

The company is likely to fix the lower price band at Rs 240 per share, enabling it to raise Rs 6.66 billion. 
"Hathway will, however, take a final call on the IPO price band closer to the issue. The company is looking at a valuation of around Rs 37 billion," the source adds.

Hathway officials were not available for comment. The company‘s managing director and chief executive K Jayaraman could not be contacted.

Hathway is lining up a bunch of anchor investors including Templeton, the source says.

The issue will open for subscriptions on 9 February and close on 11 February. The leading multi-system operator (MSO) will have a public issue of up to 27.75 million, consisting of a fresh issue of up to 20 million equity shares (Rs 10 each) and an offer for sale of 7.75 million shares.  
Hathway plans to utilise Rs 5.8 billion out of the net proceeds of its IPO, bulk of which will be for customer acquisition and digitisation of cable TV.

Hathway‘s IPO will be watched with interest by other cable companies that plan to raise capital. During the year, the market will see a flood of PSU disinvestments.

Late last year, Den Networks raised Rs 3.64 billion through an IPO. It has a market cap of Rs 24.66 billion.

Latest Reads
India, China to propel APAC, beat CAS Europe market share

APAC is expected to overtake the market share of Europe in future due to an increasing demand for digital TV set-up boxes in countries such as China and India. North America and Europe dominated the global CAS market in 2015. APAC region is estimated to mark a growth rate of 12.0 per cent CAGR...

Technology Hardware Set-top Boxes
India lucrative market for 4K UHD STBs: Grand View Research

Here’s a view on the demand for 4K or ultra high definition (UHD) set-top boxes (STBs) in India.

Technology Hardware Set-top Boxes
Infor appoints Dass as south Asian subcontinent V-P

Infor, a leading provider of business applications specialized by industry and built for the cloud, has appointed Ashish Dass as the vice president and managing director for the south Asian subcontinent. Infor software helps eliminate the need for costly customization through embedded deep...

Technology Software Applications
Siti & DishTV opt for Conax conditional access

The Essel group has been using Conax’s tech for sometime now for its Siti Network (earlier known as Siti Cable). Now the group has extended that partnership for another product for both Siti Network and DTH operator Dish TV India. This time it is for the cardless set top boxes that the two are...

Technology Hardware Set-top Boxes
Imagine Communications extends functionality of Selenio One unified transcoding platform to OTT

MUMBAI: Imagine Communications, empowering the media and entertainment industry through transformative innovation, today introduced a high-density adaptive bitrate (ABR) transcoding product built on Selenio One™, the company’s software-defined linear transcoding platform. Selenio One is designed...

Technology Hardware Components
DJI Makes Your Smartphone Smarter with the New Osmo Mobile

DJI, the world leader in creative camera technology, Thursday launched the Osmo Mobile, an extension for smartphones that turns them into intelligent, precision camera systems.

Technology Hardware Components
Prime Focus Tech gets funding from PE firm Ambit Pragma

MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus - informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

Technology Software Applications
Three new products developed by C-DOT launched on its Foundation Day

Communications Minister Manoj Sinha today expressed the hope that 100,000 Gram Panchayats (GPs) will be connected through Optical Fibre Cable (OFC) by March next to set up a network infrastructure to serve the rural masses.

Technology Hardware Distribution
Genpact and BITS partner to build talent in the field of analytics

Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today announced a partnership with premier technical education university Birla Institute of Technology and Science (BITS) for offering training programs in the field of analytics.

Technology Software Middleware

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories