(Photo: Reuters)
(Photo: Reuters)

RIL open offer for acquiring additional 26% in Hathway Cable and Datacom

  • A clutch of group companies "have announced an open offer for acquisition of up to 46,02,27,170 fully paid up equity shares
  • In October last year, Reliance Industries had announced it will buy majority stakes in Den Networks, Hathway Cable and Datacom

New Delhi: Reliance Industries and its group companies have announced an open offer to acquire an additional 26% stake in Hathway Cable and Datacom Ltd.

Jio Content Distribution, Jio Internet Distribution Holdings along with Reliance Industries and a clutch of group companies "have announced an open offer for acquisition of up to 46,02,27,170 fully paid up equity shares...from public shareholders of Hathway Cable and Datacom Ltd...representing 26% of the expanded voting share capital, at a price of 32.35 per equity share aggregating to total consideration of 1,488.83 crore, payable in cash," Hathway informed in a regulatory filing.

In October last year, Reliance Industries had announced it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for 5,230 crore.

In DEN, Reliance is making a primary investment of 2,045 crore through a preferential issue and secondary purchase of 245 crore from existing promoters. In Hathway, RIL is making primary investment of 2,940 crore through a preferential issue.

RIL had Tuesday said it has received CCI nod for the two buys.

This story has been published from a wire agency feed without modifications to the text.

Close