Cable TV and Broadband service provider Hathway Cable and Datacom Limited's IPO which is opening on February 9, 2010 will be used to repay loans and to step up its broadband and cable TV infrastructure. Out of the total amount it will raise, Hathway plans to use Rs 2,436 million for acquisition of new customers and Rs 1,564 million for development of digital capital expenditure, services and set top boxes. Rs 830 million will be utilised in parts of of Rs 83 million in the fourth quarter of FY10, and Rs 747 million in the entire fiscal 2011 for development of broadband infrastructure and services. Rs 967 million will be used to repay loans of the company. According to a filing on BSE, a total of 4,995,000 equity shares have been allocated to 13 anchor investors: Franklin Templeton India Group with 2,083,425 shares, DSP Blackrock Group with 1187550 shares, Reliance Capital Trustee Co. Ltd in account of Reliance Equity Opportunities Fund with 416,675 shares, Copthall Mauritius Investment Limited with 416,675 shares and Tree Line Asia Master Fund (Singapore) Pte Ltd with 890,675 shares. The equity shares have been prices at Rs 240 each including share premium of Rs 230 per share. Promoters' Stakes Post IPO Post IPO, promoters Akshya Raheja and Viren Raheja will hold 17 percent and 16.74 percent stake in the company. Murdoch owned New Corp which has a 20.12 percent in the company will own only 17.30 percent after the issue. Business Operation And Financials The company offers analog…
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