Cable television and broadband service provider Hathway Cable & Datacom said it has received a commitment for Rs 119.88 crore from 13 anchor investors, a day before opening of its initial public offer. An anchor investor is a qualified institutional buyer who gets an allotment commitment for up to 30 per cent of the institutional quota in an IPO. The company has finalised allocation of 49.95 lakh equity shares to 13 anchor investors at Rs 240 a piece - the lower band of the IPO - the company said.

The company would offer 2.77 crore shares at a price band of Rs 240-265 a piece. The issue will open on February 9 and close on February 11, it added. Earlier in the day, Company Secretary Milind Karnik told reporters in New Delhi that "through the issue, the company is looking at raising about Rs 666-737 crore in total".

Hathway in a separate press release said: "Anchor investors including Franklin India Funds, DSP Blackrock Funds, Reliance Capital Trustee Co, Copthall Mauritius Investment and Tree Line Asia Master Fund (Singapore) have been allotted 4,995,000 equity shares at Rs 240 per equity share."

While Franklin India Prima Fund was alloted 3.5-lakh shares, DSP Blackrock Equity Fund was allocated 3.1-lakh shares. Reliance Capital Trustee Co and Copthall Mauritius Investment were alloted 4.1-lakh shares each.