Tuesday, February 24, 2015

Ortel Communications IPO to open on Mar 3rd

Ortel Communications Ltd is entering in the capital markets with an initial public offering, IPO of 12,000,000 Equity Shares of Rs 10 each. The price band for the issue has been fixed at Rs 181/- at lower level and Rs 200/- at upper level.

Ortel Communications Ltd is a regional cable television and high speed broadband services provider, mainly engaged in the distribution of analog and digital cable television services, high speed broadband services & Voice over Internet Protocol ("VoIP") services. Company has well presence in the Indian states of Odisha, Chhattisgarh, Andhra Pradesh and West Bengal. They have built a two-way communication network for 'Triple Play' services (video, data and voice capabilities). Ortel provides its services under the brand names "Ortel Home Cable", "Ortel Digital" and "Ortel Broadband".

The issue opens on Mar 03, 2015 and closes for subscription on Mar 05, 2015. The equity shares of the issue are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).