Cable TV
GTPL Hathway allots Rs. 1450 mn to anchor investors, IPO opens today
MUMBAI: GTPL Hathway has finalised the allocation of 8,555,294 Equity Shares at Rs. 170 per Equity Share (upper end of the Price Band) aggregating to Rs. 145.43 crore (Rs 1450 million) to anchor investors.
Anchor investors include: Acacia Banyan Partners – 30.94%; Government Pension Fund Global – 18.56%; BNP Paribas Equity Fund – 5.03%; BNP Paribas Long Term Equity Fund – 2.92%; BNP Paribas MidCap Fund – 5.85%; BNP Paribas Dividend Yield Fund – 2.34%; BNP Paribas Balanced Fund – 1.05%; HTCL-HDFC Prudence Fund – 15.13%; DB International Asia Limited – 10.62%; Vittoria Fund SR LP – Asia Portfolio – 7.56%.
The Company proposes to open on Wednesday, 21 June, the initial public offering of equity shares of face value of Rs. 10 each (“Equity Shares”) for cash (including a share premium) (the “Offer”) comprising a fresh issue of Equity Shares aggregating up to Rs. 2,400 million (“Fresh Issue”) and an offer for sale of up to 14,400,000 Equity Shares – comprising up to 1,136,000 Equity Shares by Aniruddhasinhji Jadeja, up to 440,000 Equity Shares by Kanaksinh Rana, up to 5,480,000 Equity Shares by Gujarat Digi Com Private Limited, up to 7,200,000 Equity Shares by Hathway Cable and Datacom Limited and up to 144,000 Equity Shares by Amit Shah (collectively the “Selling Shareholders”) (“Offer For Sale”).
The Bid/ Offer will close on Friday, 23 June.
The Price Band for the Offer is fixed at Rs. 167 to Rs. 170 per Equity Share. Bids can be made for a minimum of 88 Equity Shares and in multiples of 88 Equity Shares thereafter.
The Book Running Lead Managers (“BRLMs”) to the Offer are JM Financial Institutional Securities Limited, BNP Paribas, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited.
The Equity Shares offered through the RHP are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
