MUMBAI: GTPL Hathway Limited, a material subsidiary of Hathway Cable & Datacom Limited, has intimated the BSE and the NSE of filing of Draft Red Herring Prospectus by GTPL.
In the communique, Hathway Cable and Datacom head legal, company secretary & chief compliance officer Ajay Singh has stated: "Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that GTPL Hathway Limited, a material subsidiary of the Company, has filed Draft Red Herring Prospectus with the Securities and Exchange Board of India as well as with both the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited.
As reported by indiantelevision.com earlier, the Hathway board had approved an initial public offering (IPO) proposal which seeks to raise funds for GTPL through a fresh issue of equity shares while giving an option to existing GTPL shareholders to sell their holdings. Hathway holds around 90 lakh shares in GTPL, according to a filing with the Bombay Stock Exchange, over the weekend.
Among the largest cable television operators in India, the listed Hathway Cable and Datacom Limited (Hathway) has a number of subsidiaries and partnership in the television signal carriage and broadband ecosystems in the company. The company has various levels of investments in these associations. One of its most profitable associations, and probably one of the largest contributors (besides Hathway itself) to Hathway’s consolidated numbers across major financial and operational parameters is GTPL Hathway Limited (GTPL), a material subsidiary, in which Hathway owns a 50 per cent stake.
Besides Hathway, another major shareholder of GTPL is its co-founder, Aniruddhasinhji Jadeja, who directly owns 14.6 per cent and controls another 29.1 per cent through another shareholding entity Gujarat Digi Com Private Limited which is majority owned by him. The other co-founder Kanaksinh Rana owns 5.2 per cent shares of GTPL.
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