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Hathway Cable gets approval to raise funds; rallies 15%

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Shares of Hathway Cable rallied as much as 15 per cent on Wednesday after the company received nod to raise funds worth Rs 99.63 crore.The company has received an approval for raising of funds through issuance of 30,800,000 equity shares at a price of Rs 32.35 per equity share including premium of Rs 30.35 per equity share, which is higher than the issue price determined in accordance with Regulation 76 of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, aggregating to Rs 99.63 crore on preferential basis to Hathway Investments, an entity forming part of promoter group. The board of directors of the company at its meeting held on August 29, 2018, approved the same.Hathway Cable and Datacom is a multi-system operator providing cable television network services, Internet services and allied services.

Its product portfolio includes cable television (standard definition and high definition (HD) services, and broadband services.

It offers cable television services in over 200 cities and towns.




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