IPO News: GTPL Hathway files draft prospectus with Sebi to float IPO

SMC | April 24, 2015, midnight

IPO NEWS 


GTPL Hathway files draft prospectus with Sebi to float IPO


GTPL Hathway, which offers cable TV and broadband services, has filed draft papers with markets regulator to float an initial public offering. The public issue comprises fresh issuance of equity shares worth `300 crore and offer for sale of 1.8 crore scrips by the existing shareholders, according to Draft Red Herring Prospectus (DRHP). Besides, the company is considering a pre-IPO placement of up to 90 lakh equity shares aggregating up to `150 crore to certain investors. Proceeds from the IPO will be utilised towards repayment of loan and other general corporate purpose. GTPL Hathway is part of the Hathway Cable & Datacom Ltd. JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors Pvt Ltd and Yes Securities will manage the company's public issue. As of September 30, 2016, the company's digital cable TV services reached 169 towns across India, including towns in Gujarat, West Bengal, Maharashtra, Bihar, Assam, Jharkhand, Madhya Pradesh, Telangana, Rajasthan and Andhra Pradesh. The company has about 5.41 million active digital cable subscribers.


Hudco files draft papers with Sebi for IPO


State-run Hudco has filed draft papers with capital markets regulator Sebi to raise funds through an initial share sale as part of the government's disinvestment drive. The initial public offer will see sale of 200,190,000 equity shares by the central government through an offer for sale (OFS)route, as per the Draft Red Herring Prospectus (DRHP). A discount of up to 5 percent on the issue price for retail investors and Hudco employees would be given. The paid up capital of Housing and Urban Development Corporation (Hudco) is `2,001.90 crore as on March, 2016. Government holds 100 percent stake in the company. IDBI Capital, Nomura Financial Advisory and Securities, SBI Capital Markets and ICICI Securities will manage the company's public issue. The proceeds from Hudco disinvestment will form part of the government's disinvestment kitty in the current fiscal. The government has budgeted to raise `56,500 crore through minority stake sale and strategic sale in PSUs. Of this, `36,000 crore is to come from minority stake sale in PSUs and another `20,500 crore from strategic stake sale.

 

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