Through the OFS, the companys promoters Jio Content Distribution Holdings, Jio Internet Distribution and Jio Cable and Broadband Holdings propose to sell up to 33,79,83,855 equity shares (representing 19.09% stake).
The floor price for the OFS is Rs 25.25 per equity share, a 11.71% discount to Hathway Cable & Datacoms closing price of Rs 28.60 on Thursday, 25 March 2021.
As of 31 December 2020, Jio Content Distribution Holdings holds 42.34% stake, Jio Internet Distribution holds 16.97% stake while Jio Cable and Broadband Holdings holds 12.65% stake in the company.
The OFS opened on Friday (26 March 2021) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Tuesday (30 March 2021). A total of 10% of the total offer size is reserved for retail investors.
As on 13:30 IST, the OFS received subscription for 3,70,35,032 shares, recording a subscription of 12.18% on the base non-retail offer size of 30,41,85,470 shares.
Hathway Cable and Datacom is one of the largest multi system operator (MSO) & cable broadband service providers in the country.
The companys consolidated net profit declined 6.96% to Rs 62.56 crore on a 1.90% fall in net sales to Rs 442.25 crore in Q3 FY21 over Q3 FY20.
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