Indian IPO

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Saturday, February 20, 2010

Hathway sets issue price of Rs 240/sh

A cable television services provider, Hathway Cable and Datacom has fixed the issue price for its 277.5 lakh equity shares initial public offering (IPO) at Rs 240 a share, at lower end of price band of Rs 240-265, reports CNBC-TV18.

The IPO received lukewarm response from investors due to highly priced as well as it has been loss making company for last few quarters. It was subscribed just 1.36 times. The issue was opened for subscription during February 9-11, 2010.

Non-institutional investors (NIIs) supported the issue to sail through while retail participation was very poor. NIIs' reserved portion got subscribed 4.3 times and qualified institutional investors' portion was subscribed 1.43 times while retail portion was just 0.28 times.

Even the anchor investors, prior to the issue opening subscribed for 4.99 million shares at Rs 240/share, at lower price band.

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