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Hathway Cable and Datacom, the Indian multi-system operator (MSO) will begin its initial public offer (IPO) from the February 9, 2010. The company has fixed the price band for the IPO at Rs 240-265 a share.

Hathway would be offering around 20 million equity shares and additional 7.75 million shares from investors. The total issue constitutes of around 19.4% of the fully diluted post-issue paid-up capital.

The cable television and broadband service company expects to raise around Rs 500 crore of funds through this IPO. As planned by the Company, the funds raised will be directed to increase the customer base, upgrade its broadband infrastructure, repayment of loans and development of digital capital expenditure, services and set top boxes.

Hathway currently has provides cable TV service, digital cable TV distribution, broadband internet services as well as broadcasts couple of channels such as Cine Channel (CCC) (a movie channel); C-News (local news), I-TV (an interactive music channel) among others. Hathway faces stiff competition in the market from the MSO Den Networks which recently got listed on the bourses.

The IPO would close on February 11, 2010.