The initial public offer of cable television and broadband services firm Hathway Cable and Datacom on Tuesday saw a lukewarm response from investors. Only 46 per cent of its shares were subscribed

The issue received bids of 1.04 crore equity shares against 2.27 crore shares on offer for public (0.46 times), according to the data available on the NSE website.

The company has come out with 2.27 crore shares on offer (excluding anchor investors portion of 49.95 lakh equity shares) at a price band of Rs 240-265 a share. At the upper end of the price range, it expects to mop up about Rs. 603 crore from the market.

Till now, non-institutional investors subscribed 2.43 times the shares reserved for them, while in institutional buyers subscribed 0.28 times.

On Monday, the company received a commitment for Rs 119.88 crore from 13 anchor investors. The company has finalised allocation of 49.95 lakh equity shares to 13 anchor investors at Rs. 240 a piece — the lower band of the IPO.

Keywords: Hathway

More In: Companies | Business