GTPL Hathway IPO to open on June 21 and closes on June 23, The company has fixed price band for the offer at Rs 167-170 per share. Bids can be made for a minimum of 88 equity shares.

India’s leading Cable TV and broadband services provider GTPL Hathway issue comprises of a fresh issue of equity shares aggregating up to Rs 240 crore and an offer for sale of up to 1.44 crore equity shares by selling shareholders.

Aniruddhasinhji Jadeja is expected to dilute stake in the company by selling up to 11.36 lakh shares, Kanaksinh Rana up to 4.4 lakh shares, Gujarat Digi Com Private Limited up to 54.8 lakh shares, Hathway Cable and Datacom up to 72 lakh shares and Amit Shah up to 1.44 lakh shares.

Bankers: JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities (India) are book running lead managers to the issue.

About GTPL Hathway
GTPL Hathway is India’s leading cable TV distribution company reaching an estimated 8 million households in over 169 cities across 10 states in India with presence in Maharashtra, Gujarat, Rajasthan, West Bengal, Jharkhand, Bihar, Madhya Pradesh, Andhra Pradesh, Telangana and Assam. GTPL Hathway is the largest MSO in Gujarat with a 67% share of the Cable TV market and is the second largest player in the cable market of Kolkata and Howrah with a 24% market share. GTPL Hathway has a significant presence in all other markets that it operates in.

Company Promoters:
1. Mr. Aniruddhasinhji Jadeja (Managing Director)
2. Mr. Kanaksinh Rana,
3. Gujarat Digi Com Private Ltd and
4. Hathway Cable and Datacom Ltd

GTPL reported revenue (operations) of Rs 199.9 crore for the three months through June 2016. Its net profit for the period stood at Rs 8.41 crore as per the new accounting system Ind (AS).

For 2015-16, the company reported a consolidated loss of Rs 0.24 crore on revenue (operations) of Rs 738.44 crore under the Ind (AS) system.

Under the Indian GAAP system, it reported a net profit of Rs 69.04 crore for 2015-16 on revenue of Rs 844.55 crore. Its top line grew 35%, according to the prospectus.

Central Depository Services Limited (CDSL) IPO Issue Detail:

  • Issue Open: The issue opens on Jun 21, 2017 and closes on Jun 23, 2017
  • Issue Type: Book Built Issue IPO
  • Price Band: Rs. 167 – Rs. 170 Per Equity Share
  • Face Value: Rs 10 Per Equity Share
  • Lot Size: 88 equity shares and in multiple thereafter
  • Issue Size: Rs 240 crore and an offer for sale of up to 1.44 crore equity shares by selling shareholders.
  • Mode of Payment: ASBA is mandatory (cheques will not be accepted)
  • Listing On: BSE, NSE

Tentative timetable

  1. 21st June – Offer Opens
  2. 23rd June – Offer Closes
  3. 29th June – Finalisation of Basis of Allotment
  4. 29th June – Initiation of refunds
  5. 29th June – Credit to Demat Accounts
  6. 30th June – Listing on NSE & BSE

Company Contact Information
GTPL Hathway Limited
Shree One Building, Opposite Armieda,
Sindhu Bhavan Road, Near Pakwan Cross Road,
Bodakdev, Ahmedabad 380059
Phone: +91 79 6140 0000
Fax: +91 79 6140 0007

Registrar to the IPO
Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078
Phone: +91-22-25963838
Fax: +91-22-25946969