Shares of GTPL Hathway settled at Rs 171.65 on BSE, a premium of 0.97% over the initial public offer (IPO) price of Rs 170.

The stock debuted on a flat note at Rs 170 compared with the IPO price. The stock hit a high of Rs 174.50 and low of Rs 162.25. On BSE, 29.47 lakh shares were traded on the counter.

The IPO of GTPL Hathway received bids for 3.09 crore shares, as per NSE data. The IPO was subscribed 1.53 times. The IPO opened for bidding on 21 June 2017 and closed on 23 June 2017.

Category wise, the qualified institutional buyers (QIBs) category was subscribed 1.48 times. The non institutional investors (NIIs) category was subscribed 2.85 times. The retail individual investors (RIIs) category was subscribed 0.99 times.

From the proceeds of the IPO, the company plans to spend Rs 229 crore for repayment of certain borrowing, and rest for general corporate purpose.

On a consolidated basis, the company's net sales for nine months ended December 2016 stood at Rs 651.93 crore. The net profit stood at Rs 21.40 crore.

GTPL Hathway is a leading regional multi system operator (MSO) in India, offers cable television and broadband services.