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Amid a buzz of IPO activity in India, GTPL Hathway is in line to raise Rp4.8bn ($74.4m) after sealing its oversubscribed listing.
The firm was looking to issue up to Rp2.4bn in new equity, while offering 14.4m secondary shares at Rp167-Rp170 apiece. Aniruddhasinhji Jadeja, Kanaksinh Rana, Gujarat Digi Com, Hathway Cable & Datacom and Amit Shah provided the secondary stock. The final price is yet to be finalised for the IPO.
After taking orders from June 21-23, the leads shut books 1.5 times covered. Institutional investors had a reservation of 5.8m shares, which they subscribed 1.48 times over, while non-institutional investors, such as high net worth individuals and corporates, placed orders for 2.85 times their 4.3m shares. Retail accounts subscribed for their 10.1m share reservation 0.99 times. In total, interest was shown for 30.0m shares versus the 20.2m up for grabs.
Before launch, GTPL secured anchor orders for 8.5m shares from...