RIL comes up with open offer to acquire an additional 26% stake in Hathway Cable

24 Jan 2019

Reliance Industries (RIL) and its group companies have come up with an open offer to acquire an additional 26 per cent stake in Hathway Cable and Datacom. Jio Content Distribution, Jio Internet Distribution Holdings along with Reliance Industries and a clutch of group companies have announced an open offer for acquisition of up to 46,02,27,170 fully paid up equity shares of face value of Rs 2 each from public shareholders of Hathway Cable and Datacom, representing 26 per cent of the expanded voting share capital, at a price of Rs 32.35 per equity share aggregating to total consideration of Rs 1,488.83 crore, payable in cash.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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