Cable television and broadband services provider Hathway Cable & Datacom Ltd. is entering the capital markets with an initial public offering of 27,750,000 Equity Shares of Rs. 10 each for cash at a price to be decided through a 100% book-building process (the “Issue”). The Bid/ Issue opens on February 9, 2010, and is scheduled to close on February 11, 2010. The Price Band has been fixed between Rs. 240 and Rs. 265 per Equity Share.
The Issue has been assigned the ‘IPO Grade 3/5’ by the SEBI-registered CRISIL Limited, indicating ' average fundamentals’. The IPO comprises a fresh issue of up to 20,000,000 equity shares and an offer for sale of 7,210,000 Equity Shares by Monet Limited and 540,000 Equity Shares by MSPI Mauritius (I) Limited (“Offer for Sale”). The Issue would constitute 19.43% of the fully diluted post-issue paid-up capital of the Company.
At least 60% of the Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”), out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only. Further, not less than 10% of the Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid bids being received at or above the Issue Price. Bids can be made for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter.
The Joint Global Co-ordinators and Book Running Lead Managers are Morgan Stanley India Company Private Limited and UBS Securities India Private Limited and the Book Running Lead Manager is Kotak Mahindra Capital Company Limited.
The Equity Shares offered through the Red Herring Prospectus of the Company are proposed to be listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited.