As reported earlier, the promoters of broadband and cable TV service provider Hathway Cable and Datacom announced to invest Rs 99.6 crore into the company via allotment of 3.08 crore preference shares at Rs 32.35 a share. Now the board has decided to pump in Rs. 150 crore more in next 18 months.
Hathway Cable has secured approval to raise funds worth Rs 99.63 crore at a board meeting on 29 August. The condition was to raise funds through issuance of 30,800,000 equity shares at a price of Rs 32.35 per equity which is higher than the issue price determined in accordance with Regulation 76 of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
The net loss of the multi system operator (MSO) Ortel Communications has come down to Rs 13.5 crore from Rs 80.2 crore in the preceding quarter. Its EBITDA dropped to Rs 60 lakh compared to Rs 5 crore in the sequential quarter. Total income fell to Rs 31.7 crore from Rs 39.7 crore. Expenses dropped to Rs 46.1 crore compared to Rs 50.6 crore a quarter ago.
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