GTPL Hathway IPO
GTPL Hathway IPO — date, price band, lot size & details 2017
GTPL Hathway listed on 4 Jul 2017 at ₹170, flat to the ₹170 issue price.
GTPL Hathway is a Gujarat based multi system operator (MSO) offering digital cable TV and broadband, and the number one cable provider in Gujarat. Its total income was Rs 494.26 crore in FY2016.
Stock price
GTPL Hathway is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 21 Jun 2017
- Close 23 Jun 2017
- Allotment 29 Jun 2017
- Refund/credit 30 Jun 2017
- Listing 04 Jul 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 23 Jun, 2017 |
|---|---|
| Price Band | ₹167 – ₹170 |
| Face Value | ₹10 |
| Lot Size | 88 Shares |
| Issue Size | ₹484.8 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,960 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 88 shares at the ₹170 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 88 | ₹14,960 |
| Retail (max) | 13 | 1,144 | ₹1,94,480 |
| S-HNI (min) | 14 | 1,232 | ₹2,09,440 |
| S-HNI (max) | 66 | 5,808 | ₹9,87,360 |
| B-HNI (min) | 67 | 5,896 | ₹10,02,320 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It had a 67% share of cable TV subscribers in Gujarat.
- 02Total income rose from Rs 383.63 crore in FY2014 to Rs 494.26 crore in FY2016.
- 03EBITDA rose from Rs 78.60 crore in FY2014 to Rs 120.96 crore in FY2016.
- 04Rs 228.94 crore of the issue was for repaying borrowings.
Risks · 5
- 01Profit after tax was only Rs 11.87 crore in FY2016, after a loss of Rs 2.76 crore in FY2014.
- 02Total borrowing rose from Rs 187.37 crore in FY2015 to Rs 371.19 crore on 31 December 2016.
- 03Cable TV faces competition from DTH and online streaming; total assets were Rs 1,284.25 crore.
- 04Rs 244.80 crore of the issue went to selling shareholders.
- 05Promoter holding fell from 98.95% before the issue to 73.85% after it.
Three years of numbers
All figures in ₹ crore, as reported in the GTPL Hathway offer document.
| Metric | 31 Dec 2016 | 31 Mar 2016 | 31 Mar 2015 | 31 Mar 2014 |
|---|---|---|---|---|
| Assets | 1,284.25 | 1,217.34 | 899.80 | 851.67 |
| Total Income | 449.65 | 494.26 | 434.60 | 383.63 |
| Profit After Tax | 20.83 | 11.87 | 13.78 | -2.76 |
| EBITDA | 137.46 | 120.96 | 108.88 | 78.60 |
| NET Worth | 371.75 | 350.46 | 281.31 | 270.39 |
| Reserves and Surplus | 281.06 | 260.93 | 282.37 | 269.67 |
| Total Borrowing | 371.19 | 293.85 | 187.37 | 215.43 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹232.00 Cr of the issue is earmarked to named objects.
GTPL Hathway IPO Anchor Investors
10 anchor investors across 4 fund houses committed ₹145.44 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Acacia Banyan Partners | - | 2,647,062 | 45.00 | 30.94% |
| Government Pension Fund Global | Government Pension Fund Global | 1,588,224 | 27.00 | 18.56% |
| BNP Paribas Equity Fund | Baroda BNP Paribas Mutual Fund | 429,968 | 7.31 | 5.03% |
| BNP Paribas Long Term Equity Fund | Baroda BNP Paribas Mutual Fund | 249,920 | 4.25 | 2.92% |
| BNP Paribas Mid Cap Fund | Baroda BNP Paribas Mutual Fund | 500,808 | 8.51 | 5.85% |
| BNP Paribas Dividend Yield Fund | Baroda BNP Paribas Mutual Fund | 199,936 | 3.40 | 2.34% |
| BNP Paribas Balanced Fund | Baroda BNP Paribas Mutual Fund | 89,936 | 1.53 | 1.05% |
| Htcl - HDFC Prudence Fund | HDFC Mutual Fund | 1,294,128 | 22.00 | 15.13% |
| Db International Asia Ltd | - | 908,248 | 15.44 | 10.62% |
| Vittoria Fund Sr Lp - Asia Portfolio | - | 647,064 | 11.00 | 7.56% |
| Total anchor allocation | 145.44 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It was the number one cable service provider in Gujarat, with a 67% share of cable TV subscribers.
It provided digital cable TV in 169 towns across India, in both digital and analog modes.
The IPO was Rs 484.8 crore, with Rs 240.00 crore of fresh issue and Rs 244.80 crore of offer for sale, at Rs 170, the top of the Rs 167 to Rs 170 band. The fresh money was mainly for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GTPL Hathway IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Motilal Oswal Investment Advisors
79 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
BNP Paribas
10 issues handledBest listing: DOMS Industries (+77.2%). Weakest: Carraro India (-7.5%).
YES Securities (India) Ltd
17 issues handledBest listing: IRCTC (+95.6%). Weakest: Bharat Dynamics (-13.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GTPL Hathway?
The current Grey Market Premium is ₹4, or 2% over the issue price.
What is the GTPL Hathway IPO price band?
₹167 to ₹170, on a face value of ₹10.
When is the allotment?
The basis of allotment is 29 June 2017, with listing on 4 July 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
