Shares of cable television and broadband service provider Hathway Cable & Datacom today hit the floor with a premium of 2.5 per cent at Rs 246 on the BSE over its issue price.
Shares of Hathway Cable & Datacom, after opening firm on the Bombay Stock Exchange, later plunged 11.66 per cent to a low of Rs 212.40 over its issue price of Rs 240.
On the National Stock Exchange (NSE) too, the stock opened up 4.16 per cent at Rs 250. Later on it quoted at Rs 235, down 2.08 per cent.
The company has entered the capital market with an issue size of 14.28 crore shares.
Currently, Hathway has three broad service areas and provides cable TV and broadband Internet services in 13 cities across the nation.
Earlier this month, the initial share sale offer of Hathway Cable & Datacom had got fully subscribed on the final day.