Jio Content Distribution, other promoter companies to offload 19% stake in Hathway Cable and Datacom

New Delhi: The promoter entities of Hathway Cable and Datacom Ltd plan to offload about 19 per cent stake in the company, entailing 33.79 crore shares at floor price of Rs 25.25 per equity share, via stock exchange route, according to a regulatory filing. The offer for sale of equity shares of Hathway Cable and Datacom by the promoter entities — Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings — is aimed at complying with the minimum public shareholding norms.

“The sellers propose to sell in aggregate up to 33,79,83,855 equity shares held by the sellers in the company, representing 19.09 per cent of the total issued and paid-up equity share capital of the company…,” according to a filing by Hathway Cable and Datacom.