ChrysCapital fully divests from Hathway Cable
ChrysCapital has fully exited investee Hathway Cable and Datacom Ltd., selling its remaining 6.36% stake in the cable TV service provider following its partial exit earlier this year at the time of Hathway’s IPO.
ChrysCapital, which held its Hathway stake through its entity Monet Ltd., offloaded its shares for INR160 crore ($34.5 million). The PE firm had initially held a 13.26% stake in the company, and sold an approximately 7% stake for INR173 crore ($37.2) earlier this year, receiving about $71.7 million in its collective exit. It paid INR264 crore ($56.8 million) on its initial investment in 2007, reports note, earning it profits of approximately $14.8 million by the time of its full exit.
Hathway raised approximately INR700 crore ($150.9 million) in its debut on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited in February.
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