Stocks

Hathway Cable’s offer for sale opens on Monday

Our Bureau Chennai | Updated on April 23, 2021

Hathway Cable & Datacom, which recently called-off a scheme of arrangement involving Den Networks and others, is launching an offer for sale by its promoter group companies Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings.

The promoters will sell up to 20.544 crore shares, representing 11.61 per cent stake in the company, through an offer for sale, the company said in an exchange filing. The floor price for the sale is set at ₹21.50 a share.

The offer for sale will open for non-retail investors on Monday, and for retail investors on Tuesday. As of March-end, the promoter-holding in Hathway Cable stood at 86.61 per cent. Shares of Hathway ended 0.7 per cent lower at ₹21.65 on the NSE.

Published on April 23, 2021

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