GTPL Hathway IPO subscribed 41% on Day 2

The initial public offering of GTPL Hathway, which offers cable TV and broadband services, received 41% subscription at the end of the second day today.

The issue, which opened on June 21, received bids for 83,22,072 shares against the total issue size of 2,02,15,966 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 69 per cent, non-institutional investors 15 per cent and retail investors 36 per cent.

GTPL Hathway on Tuesday raised over Rs 145 crore from anchor investors. The initial share sale offer of GTPL Hathway, part of Hathway Cable and Datacom, will close tomorrow.

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.