GTPL Hathway Limited to Raise Around Rs 600 crore through IPO

A subsidiary of Hathway Cable & Datacom Limited, GTPL Hathway Limited is set to raise around Rs 600 crores through initial public offer (IPO) in June. Hathway Cable & Datacom is a cable television service operator in India is buzzing on the bourses as the company’s arm. The stock gained as much as 6.5% to Rs 42.70.

Hathway’s cable TV operations span across almost 140 cities, while the broadband service is provided in 21 cities across the country, according to the company’s website.
 
The IPO is set to open for subscription from June 21 to June 23, 2017. The company has set a price band of Rs 167-170 per share for the initial share sale.
 
GTPL Hathway will use the proceeds from the IPO to reduce debt. GTPL Hathway offers cable TV and broadband services in several cities including Kolkata, Pune and Ahmedabad.