GTPL Hathway soars on inking pact to acquire balance 49% stake in GTPL Sorath Telelink
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GTPL Hathway is currently trading at Rs. 182.70, up by 4.65 points or 2.61% from its previous closing of Rs. 178.05 on the BSE.
The scrip opened at Rs. 180.00 and has touched a high and low of Rs. 182.70 and Rs. 178.90 respectively. So far 411 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 217.65 on 10-Jan-2024 and a 52 week low of Rs. 109.80 on 04-Jul-2023.
Last one week high and low of the scrip stood at Rs. 187.00 and Rs. 172.20 respectively. The current market cap of the company is Rs. 2002.40 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 8.69% and 16.31% respectively.
GTPL Hathway has entered into a share transfer agreement to acquire balance 49% of equity stake i.e., 72,609 equity shares of Rs 10 each from the existing shareholders of GTPL Sorath Telelink, a subsidiary of the company for a cash consideration of Rs 10 per equity share aggregating Rs 7.26 lakh.
The aforesaid acquisition of equity shares is for consolidation of business operations. Post acquisition, GTPL Sorath will become a wholly owned subsidiary of the company. The acquisition is expected to be completed within a period of 60 days.
GTPL Hathway is a leading regional Multi-System Operator (MSO) in India, offering cable television and broadband services.
