Reliance Industries to offload 11.61 per cent stake in Hathway Cable via OFS

Reliance Industries Limited is set to offload its 11.61 per cent stake in Hathway Cable through an offer for sale (OFS) in an effort to comply with SEBI’s minimum public holding norms. As per the exchange filings, Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Television Distribution Holdings will collectively sell 205.4 million shares, that is, an 11.61 per cent stake, in Hathway Cable at a floor price of Rs 21.50 per share as against Friday’s closing price of Rs 21.65. Further, 10 per cent of the offered shares are reserved for retail investors.

GET ACCESS TO OUR ARTICLES

Enter your email address