Reliance to offload 11.61% stake in Hathway Cable

MUMBAI: Reliance Industries will once again offload stake in Hathway Cable through offers for sale (OFS) to comply with Sebi’s minimum public holding norms. The OFS by India’s most valuable company will open for non-retail investors on Monday and for retail buyers on Tuesday.

Exchange filings showed that Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Television Distribution Holdings together will sell 20.54 crore shares, or 11.61% stake, in Hathway Cable at a floor price of Rs 21.50 per share as against Friday’s closing price of Rs 21.65. A 10% of the offered shares are reserved for retail investors.

Promoters who held 94.09% stake in the company as on December 31, 2020, reduced their holding to 86.61% last month through an offer for sale route.