Published on 4/07/2017 5:34:35 PM | Source: Reuters
GTPL Hathway makes tepid start, lists at issue price
GTPL Hathway, a cable TV and broadband services provider, made a quite debut on the Bombay Stock Exchange by listing at its initial public offer (IPO) price of Rs 170. The equity shares of GTPL Hathway are listed and admitted to dealings on the exchange in the list of 'B' Group Securities on BSE. After making a flat debut, shares of company touched an intra-day high and low of Rs 174.50 and Rs 162.25 respectively.
The shares of company were currently trading at Rs 167.55 apiece, down 1.44 per cent against issue price. The company received a lukewarm response from investors as its IPO was subscribed only 1.53 times during the offer period between June 21 and 23. The company, which got listed on both the bourses of BSE and NSE, has fixed a price band of Rs 167-170 per share. In a similar fashion, stocks of company were trading 1.26 per cent lower at Rs 167.85 apiece on the National Stock Exchange.
JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities are managing the issue. Meanwhile, the broader benchmark BSE Sensex was trading at 31,177.74, down 43.88 points, or 0.14 per cent, at 12:20 hours.