17 Oct 2017
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Goldman Sachs picks up 4.8% in Hathway Cable for Rs 52.6 cr

MUMBAI: Goldman Sachs is showing interest in Indian cable TV companies. Having already invested $110 million in Sameer Manchanda-promoted Den Networks, it has now picked up over 4.8 per cent stake in Hathway Cable & Datacom.

On 15 January, Goldman Sachs (Singapore) Pte bought 8.1 million (80,93,268) shares of Hathway from the open market at the National Stock Exchange (NSE) at Rs 65 apiece.

The company has spent Rs 52.61 crore (Rs 526.06 million) to buy the stake.

Meanwhile, existing shareholder Macquarie Bank has also picked up 1.3 million shares in the company, thus increasing its holding in Hathway from 9.11 per cent to 9.42 per cent.

Other prominent investors in Hathway include Providence Equity Partners (10.85 per cent), Reliance Capital (5.23 per cent) and CLSA Global (4.02 per cent).

Goldman Sachs, which has invested actively in cable and broadband-related companies in several countries globally, holds 17.8 per cent stake in Den and around 40 per cent in broadband company Tikona Digital Network (TDN).

The FII also has investments in Cequel and Marcus Cable (US), Diamond Cable (UK), e-Access (Japan), Kabel Deutschland (Germany), C&M (Korea), Cablecom (Switzerland) and Get (Norway).

Hatway shares closed at Rs 66.15, up 1.69 per cent on the BSE on Friday.