GTPL Hathway the multi system operator (MSO) got the approval of the Security and exchange board in India (SEBI) for an initial public offering (IPO) the estimated valuation is around US$ 470 million.
Ortel Communication was the last MSO to enlist on the stock market exchange. GTPL is offering 18 million equity share. The company is dominant in Gujarat having captured 67 % of the market with 5.6 million subscribers.
GTPL Hathway is the second-largest MSO in Kolkata and Howrah in West Bengal with a market share of 24% of cable television subscribers in that market in 2015, accounting for approximately 0.7 million of 3.0 million cable TV households in Kolkata and Howrah.
It had seeded approximately 6.19 million set-top boxes (STBs) and had approximately 5.41 million active digital cable subscribers. As of 31 August, it had approximately 2.02 million analogue cable subscribers, for which it had received requisitions for digital STBs from local cable operators (LCOs). The company had 217,823 broadband subscribers until 30 September with approximately 1 million homes passed.