New Delhi: The initial public offering of GTPL Hathway, which offers cable TV and broadband services, was subscribed 27 per cent on the first day of bidding on Wednesday.
The IPO received bids for 54,71,312 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 and retail investors 15 per cent.
GTPL Hathway yesterday raised over Rs. 145 crore from anchor investors.
The initial share sale offer of GTPL Hathway, a part of Hathway Cable and Datacom, will close on June 23.
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 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.