GTPL Hathway IPO gets subscribed 1.42 times on the final day
E-commerce operators and TDS deductors will be able to register with GST Network beginning June 25, when the portal re-opens for fresh registration.
Also, existing excise, service tax and VAT assessees will get another chance to migrate to the GSTN portal as registration for them too opens on Sunday next and will remain open for three months.
The GSTN portal will now start accepting fresh registrations from June 25.
The registration will also start for GST practitioners, Tax Deductors at Source (TDS) and e-commerce operators, which are required to collect tax at source, GSTN said in a statement.
GSTN, the company providing IT backbone for the new tax regime, will offer another opportunity to existing tax payers to migrate, five days before the rollout of Goods and Services Tax (GST). Out of the 81 lakh existing assessees, over 65.5 lakh have already migrated to the portal. Registration with the GSTN is necessary for doing business in the GST regime as businesses will have to upload monthly supply data as well as file return forms on this portal.
“People should not panic. If you are left out, you will get another opportunity because the law says anybody who is registered under taxes which are subsumed under GST if they have a valid PAN then they will be given a valid registration,” GSTN Chairman Navin Kumar said.
The portal will also be opened for enrolment of GST practitioners on June 25. The GSTN portal was open from November 8 till April 30 and then again for 15 days in June for enrolment of existing taxpayers.
It will now be open again from June 25th for a period of 3 months for existing taxpayers registered under Central Excise/Service Tax/VAT etc, the statement said.
The initial public offering of GTPL Hathway, which offers cable TV and broadband services, was subscribed 1.42 times till late afternoon trade on the last day of offer on Friday.
The IPO received bids for 2,87,33,232 shares against the total issue size of 2,02,15,966 shares, data available with NSE till 1545 hours showed.
GTPL Hathway on Tuesday raised over ₹145 crore from anchor investors.
The company plans to garner up to ₹485 crore through the IPO, which comprises fresh issue of shares worth ₹240 crore and the remaining through offer for sale (OFS) of up to 1.44 crore shares in the price band of ₹167-170 a share.
Proceeds from the IPO will be utilised towards repayment of loan and other general corporate purposes.
JM Financial Institutional Securities, BNP Paribas, Motilal Oswal Investment Advisors and Yes Securities are managing the issue. The shares will be listed on BSE and NSE.