GTPL Hathway IPO subscribed 41% on Day 2

The GTPL Hathway IPO will close on Friday. Photo: Mint

The GTPL Hathway IPO will close on Friday. Photo: Mint

New Delhi: The initial public offering of GTPL Hathway, which offers cable TV and broadband services, received 41% subscription at the end of the second day on Thursday.

The issue, which opened on 21 June, received bids for 83,22,072 shares against the total issue size of 2,02,15,966 shares, data available with the National Stock Exchange (NSE) showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 69%, while the categories for non-institutional investors and retail investors were subscribed 15% and 36%. GTPL Hathway on Tuesday raised over Rs145 crore from anchor investors.

The initial share sale offer of GTPL Hathway, part of Hathway Cable and Datacom, will close on Friday. The company plans to garner up to Rs485 crore through the IPO, which comprises fresh issue of shares worth Rs240 crore and the remaining through offer for sale (OFS) of up to 1.44 crore shares in the price band of Rs167-170 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. The shares will be listed on BSE and NSE.