Hathway Cable rises on plans to raise Rs 150cr via preferential share issue

Stock gained ahead of the EGM tomorrow to raise Rs 150 cr through preferential allotment to CLSA Global Markets

Shares of Hathway Cable & Datacom were up nearly 3% at Rs 310 ahead of the Extra-Ordinary General Meeting tomorrow to raise funds through preferential allotment of equity shares.

The company plans to issue up to 47,00,000 shares fully-paid equity shares to CLSA Global Markets Pte. Ltd at Rs 320 per share aggregating up to Rs 150.40 crore on a preferential allotment basis in one or more tranches.

Further, Macquarie Bank acquired 40.73 lakh shares of the company at an average price of Rs 304.72 per share in bulk deals on Wednesday, as per data on the National Stock Exchange.

The stock opened at Rs 307 and touched a high of Rs 317 so far. Over 85,000 shares were traded on both the stock exchanges so far.