GTPL Hathway IPO oversubscribed 1.42 times

NEW DELHI: The initial public offering of GTPL Hathway, which offers cable TV and broadband services, was oversubscribed 1.42 times till late afternoon trade on the last day of offer on Friday.

The IPO received bids for 2,87,33,232 shares against the total issue size of 2,02,15,966 shares, data available with NSE till 1545 hours showed.

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

The company plans to garner up to Rs 485 crore through the IPO, which comprises fresh issue of shares worth Rs 240 crore and the remaining through 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.

The shares will be listed on BSE and NSE.