Hathway Cable & Datacom Limited witnessed a rise in its share price by 2.88 percent, closing at ₹17.50, after the company announced the acquisition of the remaining 61.15 percent equity stake in its subsidiary, Hathway Cable MCN Nanded (Hathway Nanded).

This acquisition consolidates Hathway Nanded as a wholly owned subsidiary, strengthening the company’s cable TV operations in the Nanded region of Maharashtra, Business Standard reported.

The transaction involved Hathway acquiring 20,54,832 equity shares from 11 shareholders, including Hathway MCN, a subsidiary of the company. The total cash consideration for the acquisition was ₹11, with the deal executed on an arm’s-length basis. The move is part of Hathway’s strategy to consolidate its business operations and enhance its presence in the cable TV market.

Hathway Nanded, established on March 11, 2008, focuses on cable TV services and reported a turnover of ₹5.58 crore for the fiscal year 2023-24. With this acquisition, the subsidiary is now fully integrated into Hathway’s broader operational framework, allowing the company to streamline its business and expand its regional reach.