Hathway Cable IPO : To raise Rs 570 cr

by khalid on 12/10/2009 · 0 comments

hathway

Hathway Cables is in cable distribution business. The company is planning to raise Rs.570 crores through Initial Public Offer (IPO). It plans to offload 20% stake through this IPO.

Promoter Raheja owns around 58 per cent in Hathway Cable while Star Group has 22 per cent and ChrysCapital 14 per cent. Newscorp is a key investor with 20.11% stake and it will be diluted to 17.3%, post issue of this IPO. The market regulator in India requires cable TV companies to cap their foreign holdings at 49 per cent.

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