Hathway Promoter to Infuse Rs 100 cr Equity in The Company

The shares will be issued to Hathway Investments Private Limited, an entity forming part of the promoter group. Hathway Cable and Datacom Ltd’s board has approved raising of funds up to Rs100cr by way of Preferential Allotment of equity shares of face value Rs2each. The shares will be issued to Hathway Investments Private Limited, an entity forming part of the promoter group. The shares will be issued at an issue price per equity share not less than the minimum price determined in accordance with the provisions of Chapter VII of the SEBI (Issue of Capital Disclosure Requirements) Regulations, 2009 or at a price of Rs 32.25/share, whichever is higher. As on March 31, 2018, Hathway’s net debt-to-equity ratio stood at 1.23. Post this issue, it is expected to come down below 1. Hence it is positive for the company. Hathway Cable & Datacom Ltd is currently trading at Rs 17.60 up by Rs 0.5 or 2.92% from its previous closing of Rs 17.10 on the BSE. – India Infoline News Service