Reliance Industries (RIL)-promoted Hathway Cable & Datacom will launch an offer for sale (OFS) on Monday the second time in a month it will be doing so. The last OFS for Rs 853 crore was partially subscribed. This month, the company will launch a Rs 442-crore share sale, offloading 205.44 million shares, or an 11.61 per cent stake, at a floor price of Rs 21.50. Promoter group firms that will sell shares include Jio Content Distribution Holdings, Jio Internet Distribution Holdings, and Jio Cable and Broadband Holdings. The share sale by these firms is aimed at achieving minimum public holding in Hathway in accordance with the norms set by the Securities and Exchange Board of India (Sebi).
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Hathway Cable’s offer for sale opens on Monday
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.
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