IPO Alert: GTPL oversubscribed 153% on its last day

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GTPL Hathway :- IPO issue has been subscribed by 153% on Friday as of 2015 hours. The total bids received by the IPO stood at 3,09,72,216 shares and the total bids received at cut off price stood at 86,69,848 shares on its last day of subscription. The total issue size for the IPO stands at 2,02,15,966 shares.

Initial Public Offering (IPO) of a joint venture of cable TV operator GTPL and Hathway has opened for subscription on Wednesday and will close on Friday. The company has on Tuesday raised around Rs 145 crore by allotting shares to anchor investors ahead of its IPO.

The IPO issue will follow book building process wherein the price band is set at Rs 167 to Rs 170 per share. The minimum order quantity stands at one market lot, which contains 88 equity shares. Shares are going to list on mainstream exchanges, BSE and NSE.

The company has planned to raise up to Rs 485 crore through the way of IPO, which includes a fresh issue of shares worth Rs 240 crore and remaining through offer for sale of up to Rs 1.44 crore shares. The funds raised through IPO will be used for the repayment of the loans and other general corporate purposes.

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