Hathway Cable and Datacom’s subsidiary — GTPL Hathway — is reportedly looking to play on its strategy of local content acquisition. The company is also planning to partner with local cable operators.
The company which is in the process of raising Rs 600 crore through an IPO, said the funds will go into expanding its subscriber base and debt reduction. The IPO will involve a fresh issue of shares and an offer for sale by existing shareholders. The company may sell up to 9 million shares of GTPL.
Hathway Cable owns 50 per cent stake in GTPL Hathway, which, in turn, owns and has joint ventures with other companies to run operations in Gujarat, Maharashtra, Rajasthan, West Bengal, Assam, Jharkhand, Andhra Pradesh and Madhya Pradesh.