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Macquarie Bank ups stake in Hathway to 9.62 per cent

MUMBAI: Macquarie Bank has acquired 4.07 million (4,073,580) shares, or a 2.67 per cent stake, in Hathway Cable & Datacom for Rs 124.13 crore (Rs 1.24 billion).

The purchase was made at Rs 304.72 apiece in a bulk deal on the NSE on Wednesday.

With this, Macquarie owns 14.63 million shares, or 9.62 per cent stake, in Hathway Cable & Datacom. Prior to the new transaction, it already owned 10.56 million shares, or 6.95 per cent stake, in Hathway.

Meanwhile, Route One Investment Company has partially exited from Hathway. It sold 2.12 million (Route One Fund) and 1.83 million (Route One Offshore Master Fund LP) shares in two separate bulk deals on the NSE. The selling price was Rs 304.80 per share.

While Route One Fund I LP owned 3,402,990 shares or 2.24 per cent stake, Route One Offshore Master Fund LP had 3,030,781 shares, or 1.99 per cent stake, in Hathway, as of 30 June.

Promoter holding in the company stands at 47.51 per cent stake while 33.14 per cent is owned by foreign institutional investors (FIIs).

Hathway scrip closed at Rs 302.45 on the BSE, down 0.75 per cent from its previous close.