InvestorQ : Is it true that Reliance Industries is planning to exit Hathway Cable & Datacom?
sara Kunju made post

Is it true that Reliance Industries is planning to exit Hathway Cable & Datacom?

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Mary Joseph answered.
2 weeks ago
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Hathway Cable & Datacom, part of the Reliance Industries group, offer for sale or OFS will open on Monday, 26 April. The previous OFS worth Rs.853 crore was only partially subscribed. This time around Hathway OFS will offload 20.54 crore shares at a price of Rs.21.50. This will be worth Rs.442 crore and represents 11.61% stake. Jio will be selling part of its stake in Hathway.

This OFS is intended to reduce the promoter stake to 75% in line with SEBI regulations pertaining to promoter stake in listed companies. RIL’s original plan of merging Hathway, Den and TV18 Broadcast into Network 18 has been shelved. RIL has already brought down its stake in Hathway to 86.61% and post this OFS it will be down to 75%.

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