MUMBAI: The new year has started on a good note for multi system operator (MSO) Hathway Cable and Datacom. Hathway, which became the first MSO to have crossed the $1 billion mark in terms of enterprise valuation, has now attracted Goldman Sachs, which picked up 4.8 per cent stake in the company.

After investing Rs 600 crore in DEN Networks in 2013, this is Goldman Sachs second investment in Indian cable TV industry.

The company bought 80,93,268 shares of Hathway at Rs 65, amounting to Rs 52.6 crore on the National Stock Exchange (NSE).

The highest shareholder in the MSO is Macquarie Bank with 9.11 per cent stake. Other shareholders in the company include Reliance Capital (5.23 per cent), P6 Asia (Providence Equity Partners) (10.85 per cent) and CLSA Global (4.02 per cent) among others.

The news comes at the back of the MSO seeking shareholder’s approval for increasing its total foreign investment by Foreign Institutional Investors (FII) and Foreign Portfolio Investors (FPI) to 74 per cent from the current 49 per cent.

While Hathway had on 8 January got Board approval for increasing the foreign investment limit, subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India, the MSO is now seeking the shareholders nod.

The Hathway Board has appointed Rathi and Associates Himanshu S Kamdar as scrutiniser for conducting the voting process through postal ballot. The company has also offered e-voting facility as an alternative. The last date for the ballots to reach Kamdar is 5 pm on 13 February.