TMT
By 05 February, 2010

Cable television and boradband services provider Hathway Cable & Datacom Ltd said on Friday it had set the price band for its initial public offering (IPO) at 240-265 rupees a share.

The company plans to raise up to 7.35 billion rupees through an offer of 27.75 million shares, consisting of 20 million new shares and the remaining to be sold by shareholders Monet Ltd and MSPI Mauritius.

The total issue constitutes about 19.43 percent of the company's post-issue capital.

The issue opens on Feb. 9 and closes Feb 11.

Morgan Stanley India Co Pvt Ltd, UBS Securities India Pvt Ltd and Kotak Mahindra Capital Co Ltd will manage the issue, according to a draft filing with the Securities and Exchange Board of India.

The proceeds from the fresh share issue will be used for customer acquisitions, capital expenditure, loan repayment and general corporate purposes.

For fiscal 2008/09, the company recorded a net loss of 620.6 million rupees on an income of 6.63 billion rupees.

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