GTPL Hathway acquires SCOD18

GTPL Hathway Limited has acquired 100% shares of SCOD18 Networking Private Limited on August 5, 2019 to enhance its footprint in Maharashtra state.

SCOD18 has authorised share capital of Rs 6,05,00,000 and paid-up share capital of Rs 1,64,20,000. The turnover of SCOD18 stood at Rs. 30.564 crore as on March 31, 2019. SCOD18 is an Indian cable television service provider. GTPL Hathway acquired equity shares of SCOD18 at Rs. 68.21 per share having face value Rs. 10 each. The consideration for the transaction will be paid in cash.

GTPL Hathway is one of India's leading cable TV and broadband service providers. The company's digital cable TV services reach an estimated 8 million households in over 500 cities across India, including towns in Maharashtra, Gujarat, Rajasthan, West Bengal, Jharkhand, Bihar, Madhya Pradesh, Andhra Pradesh, Telangana, Goa and Assam. GTPL Hathway is the largest MSO in Gujarat with 67% share of the cable TV market and is the second largest player in the cable market of Kolkata and Howrah, with 24% market share. GTPL Hathway has a significant presence in all other markets that it operates in.

On Tuesday, the stock of GTPL Hathway opened at Rs 78.50 and made an intra-day high and low of Rs. 79.50 and Rs. 77, respectively, on the BSE. The stock closed at Rs. 77.10, up by 0.13 per cent.