IPO Alert: GTPL Hathway To Raise Rs 600 Crore In June

GTPL Hathway Ltd is a part of Hathway Cable and Datacom Ltd. It provides cable TV and broadband services. The company intends to raise around Rs 600 crore through initial public offer (IPO) in June this year.

The company has received SEBI's nod and will be coming out with their IPO soon. The funds will be utilised towards repayment of loan and other general corporate purpose.

According to the draft red herring prospectus (DRHP), the public issue consists of fresh issuance of equity shares worth Rs 300 crore and offer for sale of 1.8 crore scrips by the existing shareholders, reported a national news portal.

The company has reportedly appointed Yes Securities, BNP Paribas, JM Financial Institutional Securities and Motilal Oswal Investment Advisors Pvt Ltd to manage the public issue.

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