New Delhi: The initial public offering (IPO) of GTPL Hathway, which offers cable TV and broadband services, was subscribed 27% on the first day of bidding on Wednesday.

The IPO received bids for 5,471,312 shares against the total issue size of 20,215,966 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 69% and retail investors 15%. GTPL Hathway yesterday raised over Rs145 crore from anchor investors.

The initial share sale offer of GTPL Hathway, a part of Hathway Cable and Datacom, will close on 23 June.

The company plans to garner up to Rs485 crore through the IPO, which comprises fresh issue of shares worth Rs240 crore and the remaining through OFS of up to 1.44 crore shares in the price band of Rs167-170 a share.

Proceeds from the IPO will be utilized towards repayment of loan and other general corporate purposes. JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities are managing the issue. The shares will be listed on BSE and NSE.

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