Singapore’s CLSA buys minority stake in Hathway for INR 1.50 bn

Indian multi-system operator, Hathway Cable and Datacom, has received over INR 1.50 billion investment from Singapore-based equity firm, CLSA Global Market (CLSA), for a minority stake. CLSA has purchased over 47,00,000 equity shares at INR 320 per share.

“We are raising fresh capital of INR 150.40 crore (INR 1.50 billion). This will be used for broadband expansion, part-retirement of debt and corporate expenses,” said Jagdish Kumar, Managing Director and CEO of Hathway Cable & Datacom.

Hathway had got approval from its shareholders to raise over INR 16 billion through borrowing against paid-up equity and free reserve.