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Saturday, 24 June 2017

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GTPL Hathway IPO oversubscribed 1.53 times on last day


The initial public offering (IPO) of GTPL Hathway, which offers cable TV and broadband services, was oversubscribed 1.53 times on the last day of offer today.


The IPO received bids for 3,08,57,728 shares against the total issue size of 2,02,15,966 shares, data available with the NSE showed.


The category reserved for qualified institutional buyers (QIBs) was oversubscribed 1.48 times, non institutional investors 2.85 times and retail investors 94%, sources said.


GTPL Hathway on Tuesday raised over Rs 145 crore from anchor investors.


The IPO to garner up to Rs 485 crore comprises fresh issue of shares worth Rs 240 crore and offer for sale (OFS) of up to 1.44 crore shares in the price band of Rs 167-170 a share.


Proceeds from the IPO will be utilised towards repayment of loan and other general corporate purposes.


JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities are managing the issue.

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