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Hathway sets IPO price band at Rs 240-265

Indiantelevision.com Team

(5 February 2010 9:50 pm)

MUMBAI: Hathway Cable & Datacom has fixed its initial public offering (IPO) price band at Rs 240-265 per share.

Indiantelevision.com had first reported that the cable television and broadband service provider is looking at the same price band.

With the issue the company will be able to raise Rs 7.35 billion at the upper price band.

Hathway will hit the capital market on 9 February with an IPO of fresh issue of up to 20 million equity shares (of Rs 10 each) and an offer for sale of 7.75 million shares. The issue closes on 11 February.

Hathway will use the proceeds of the issue for customer acquisition, digitisation of cable TV, repayment of loans and development of digital capital expenditure, services and set top boxes.

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