Technology

Hathway seeks to shave off debt

MUMBAI: India‘s leading MSO Hathway Cable & Datacom says it will be using the Rs 100 crore it has raised from the sale of its equity shares to alternative asset manager Steadview Capital Mauritius Ltd (SCML), LTR Focus Fund, and Massachusetts Institute of Technology (MIT) SCM to retire some of its debt.


Says Hathway Cable & Datacom MD and CEO Jagdish Kumar G. Pillai: "Most of the money raised will be used to reduce our debt and to make our debt-equity ratio better. With Phase III and IV coming up soon we are open to opportunities, but at this point of time we are well funded."


One of the stars of the digitisation of cable TV rollout in India, Hathway today informed the BSE that it had preferentially allotted 35,21,000 Rs 10 face value shares to the three entities at a price of Rs 284 each. The company‘s board had got shareholder approval on 26 September for the same during the course of an extra ordinary general meeting.






"Most of the money raised will be used to reduce our debt and to make our debt-equity ratio better," says Hathway Cable & Datacom MD and CEO Jagdish Kumar G. Pillai

The break-up of the allotment is as follows: Steadview Capital Mauritius Limited (12,00,000 equities), LTR Focus Fund (8,01,000 equities) and MIT SCM (15,20,000 equities) totting up to Rs 99.99 crore.


The company‘s equity capital has increased to 15,19,98,900 shares from 14,84,77,900 prior to the allotment. SCML‘s holding in the company has jumped from 0.0008 per cent to 0.79 per cent; similarly for LTR from 0.0004 per cent to 0.53 per cent and the shareholding of MIT SCM has risen from 0.0008 per cent to one per cent. The investment has a lock in period of one year from the date of receipt of trading approval.


The promoter holding has in tandem fallen from 48.63 per cent to 47.51 per cent of the expanded share capital.


The stock market reacted positively to the news with the share closing at Rs 285.70 following its opening of Rs 270.70 and an intra-day high of Rs 288.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/18/shemaroo.jpg?itok=HA92023K
Shemaroo Bhakti App Acts as a Devotees Guide for Kumbh Mela 2019

Shemaroo Entertainment Limited, has curated a special section on Shemaroo Bhakti App for the devotees going to Kumbh Mela.

Technology Software Applications
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/09/truecaller.jpg?itok=TzsguYab
Messaging Gets Smarter with Classification, Smart Notification and Backup Features for Truecaller Users

Truecaller introduces three new smart updates called ‘SMS Classification’, ’Smart Notification’ and ‘Messages Backup’ to its existing Messaging Inbox feature, to enhance the SMS messaging experience for all Android users.

Technology Software Applications
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/07/ms.jpg?itok=o8sdWF27
Prepare for Microsoft MCSA, MCSE certifications with actual exam dumps

To become a valuable professional candidate, you need to possess up-to-date skills and keep pace with the constantly developing world of IT.

Technology Software Applications
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/07/P%26G.jpg?itok=fWndM1I-
P&G rolls out innovative, connected products at CES 2019

Can an FMCG company go the connected product route too?. Well the Cincinnati-based Procter & Gamble obviously believes that's the way to go. At a press conference today, the global major unveiled six products at the Mandalay Bay in Las Vegas during CES 2019.

Technology ces
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/07/ces.jpg?itok=ZuVLQRNO
Consumer Electronics Show 2019: A ringside view

CES. Billed as the world’s largest consumer electronics show which brings in about 180,000 visitors who queue up and walk miles visiting 4,000 plus exhibitors who are showing  off the latest in tech over 2.5 million square feet of exhibition space.

Technology ces
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/04/Synamedia.jpg?itok=-gsubF80
Synamedia makes CES debut, offering pay-TV providers frictionless cloud migration strategies, new revenue opportunities

Synamedia, the largest independent video software provider, will bring its newest solutions to CES® 2019, illustrating how pay-TV providers can migrate to the cloud at their own pace, and seamlessly. The company also unveiled new security software that combats the rapid rise in account sharing...

Technology ces
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/03/web.jpg?itok=BldnOoXa
Adapt My Web: making the web accessible to all

There are currently more than 600 million active websites in France.

Technology ces
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/03/jenax.jpg?itok=ETVd5Wyl
Jenax presents revolutionized ways to connect human body to iot powered by the first true flexible battery at CES 2019

Jenax, an inventor and a manufacturer of flexible and fast-charging lithium-ion rechargeable batteries, today announced that the company will present how its award-winning J.Flex

Technology ces
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/03/cte.jpg?itok=3_UZQ5Vm
Consumers Expect to be Riding Hyperloops and Owning Home Robots in 2030 According to Survey by CITE Research/Dassault Systèmes

Dassault Systèmes (Euronext Paris: #13065, DSY.PA) today revealed that consumers expect that cities in 2030 will be filled with technology that improves overall quality of life, delivers socially-conscious benefits and personalizes experiences.

Technology ces

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories