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Goldman Sachs ups stake in Hathway Cable to 7.55%

MUMBAI: Goldman Sachs has increased its stake in multi-system operator (MSO) Hathway Cable & Datacom to 7.55 per cent by making a fresh purchase of 4.45 million shares.

The company picked up  2.68 per cent stake for Rs 21.36 crore (Rs 213.62 million) at Rs 48 apiece on Friday, 20 March, through open market transaction. 

Earlier in January this year, Goldman Sachs had shown interest in Hathway by picking up 4.8 per cent stake in the MSO. It had then picked up 8.1 million shares at Rs 65 per share.

Goldman Sachs already has invested $110 million in Sameer Manchanda-promoted Den Networks.

Incidentally, Hathway has attracted a lot of interest from investors. On 17 March, East Bridge Capital Master Fund bought seven million shares constituting 4.21 per cent, at Rs 50 per share.

At present, Hathway’s investors include Providence Equity Partners (10.85 per cent), Macquarie Bank (9.42 per cent), Reliance Capital (5.23 per cent), and CLSA Global (4.02 per cent).

Hathway shares closed at Rs 48.40, up 0.83 per cent on the BSE on Friday.

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