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Hathway Cable & Datacom, the cable television and broadband service company received a commitment for around Rs 120 crores from 13 anchor investors on the eve of the commencement of its IPO.

Beginning with its IPO today, February 9, 2010, Hathway has 13 anchor investors who will be fusing in Rs 119.88 crore of funds for 18% of the total shares being offered through IPO.

In a press release with the Bombay Stock Exchange, the company notified that it has finalised allocation of 49.95 lakh equity shares to 13 anchor investors at Rs 240 a piece. The anchor investors include Franklin India Funds, DSP Blackrock Funds, Reliance Capital Trustee Co, Copthall Mauritius Investment and Tree Line Asia Master Fund (Singapore).

A leading MSO in the Indian region, Hathway announced last week to begin with its initial public offer (IPO) from February 9, 2010 to February 11, 2010 and raise about Rs 666-737 crore in total from the issue. The company is offering 2.77 crores of shares for which it has fixed the price band of Rs 240-265 per share.

The company plans direct the funds raise via the IPO to increase the customer base, upgrade its broadband infrastructure, repayment of loans and development of digital capital expenditure, services and set top boxes.