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Ortel Communications Ltd IPO (Ortel Communications IPO) Detail

Mar 3, 2015 - Mar 5, 2015

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".

Ortel Communications Ltd is among the ten major Multi System Operators in India ("MSOs"). Their business is broadly divided into:

1. Cable television services comprising of (a) analog cable television services; (b) digital cable television services including other value added services such as HD services, NVoD, gaming and local content;
2. Broadband services;
3. Leasing of fibre infrastructure; and
4. Signal uplinking services.

Ortel Communications currently offer services in 48 towns and certain adjacent semi urban and rural areas with over 21,600 kilometers of cables supported by 34 analog head-ends and five digital head-ends. They use HFC (combination of optic fibre in the backbone and coaxial cable in the downstream) to build their network. They provide their service to both retail and corporate customers.

Company Promoters:

The following individuals are the Promoters of the Company:

1. Mr. Baijayant Panda; and
2. Ms. Jagi Mangat Panda

Company Financials:

ParticularsFor the year/period ended (in Rs. Million)
30-Sep-1431-Mar-1431-Mar-1331-Mar-1231-Mar-11
Total Income719.341350.361218.051212.75982.51
Profit After Tax (PAT)6.61(120.64)(250.98)(169.24)(190.37)

Objects of the Issue:

The object of the company are to:

1. Expansion of network for providing video, data and telephony services;
2. Capital expenditure on development of digital cable services;
3. Capital expenditure on development of broadband services; and
4. General corporate purposes.

Ortel Communications IPO Details

IPO Opening Date Mar 3, 2015
IPO Closing Date Mar 5, 2015
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹181 to ₹200 per equity share
Market Lot 75 Shares
Min Order Quantity 75 Shares
Listing At BSE, NSE
Issue Size12,000,000 Eq Shares of ₹10
(aggregating up to ₹66.11 Cr)

Ortel Communications IPO Lot Size

The Ortel Communications IPO market lot size is 75 shares. A retail-individual investor can apply for up to 13 lots (975 shares or ₹195,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 75 ₹15,000
Maximum 13 975 ₹195,000

IPO Notices

External Link

Ortel IPO has been successfully closed, offer size reduced

Ortel Communications IPO successfully closed, despite it remain unsubscribed, after the offer size been reduced. As per statement by the book running lead manager, 'Ortel has successfully raised its entire primary capital requirement as stated in the IPO Red Herring Prospectus, along with providing partial exit to New Silk Route (NSR)'.

Ortel Communications IPO received bids for 71,23,125 shares against an offer of 94,42,575 shares.

The Ortel Communications public issue comprise of two issues:

  1. A fresh issue to the public of up to 6,000,000 equity shares and
  2. An offer for sale (OFS) of upto 6,000,000 equity shares by NSR - PR Mauritius LLC

As the issue received bids for total 7,123,125, the first part of the issue which is fresh issue to the public is fully subscribed and thus the company will continue for list at BSE and NSE. The OFS part of the issue, which remain unsubscribed will be partial withdrawn.

Ortel Communications IPO Review

At the asking price this negative P/E IPO is a risky bet and hence no harm giving it a miss.

(Disclaimer: Author has no plans to invest in this IPO)

Read detail review...

Ortel Communications IPO Subscription Status (Bidding Detail)

The Ortel Communications IPO is subscribed 0.76 times on 3/5/2015 6:15:00 PM. The public issue subscribed 0.39 times in the retail category, 1.00 times in the QIB category, and 0.09 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.00
NII0.09
Retail0.39
Total0.76

Ortel Communications IPO Prospectus

Ortel Communications IPO Rating

91
2.8
Rating:Rated 2.8 stars
Vote Here ...

Ortel Communications IPO Listing Date

Listing Date Thursday, March 19, 2015
BSE Script Code 539015
NSE Symbol
Listing In T Group of Securities
ISIN INE849L01019
IPO Price ₹181 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹181.00
₹181.00
₹171.95
₹181.00
₹171.95
NSE
₹181.00
₹160.05
₹160.05
₹168.05
₹162.25

Company Contact Information

Ortel Communications Ltd
Ortel Communications Ltd,
B 7/122A Safdarjang Enclave,
New Delhi - 110029, Delhi
Phone: 91-11-46868800
Email: ipo@ortelgroup.com
Website: http://www.ortelcom.com

Ortel Communications IPO Registrar

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: ortel.ipo@karvy.com
Website: https://karisma.kfintech.com/

Ortel Communications IPO Reviews / Ratings

  • Dilip Davda - Avoid
  • Emkay Global - Apply
  • Hem Securities - Avoid
  • ICICI Direct - Avoid
  • VS Fernando - Apply

Ortel Communications IPO FAQs

Ortel Communications IPO is a main-board IPO of 12,000,000 equity shares of the face value of ₹10 aggregating up to ₹66.11 Crores. The issue is priced at ₹181 to ₹200 per equity share. The minimum order quantity is 75 Shares.

The IPO opens on Mar 3, 2015, and closes on Mar 5, 2015.

KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Ortel Communications IPO opens on Mar 3, 2015 and closes on Mar 5, 2015.

Ortel Communications IPO lot size is 75 Shares and the minimum order quantity is 75 Shares.

You can apply in Ortel Communications IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Ortel Communications IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Ortel Communications IPO allotment status.

The Ortel Communications IPO listing date is on Thursday, March 19, 2015.

Ortel Communications IPO Message Board

Ranked Members  Ranked Members

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53 Comments

44. VALUE INVESTOR |Mar 19, 2015 2:11:22 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
OK. It got stuck at 10% lower circuit at 168 Rs.
43. VALUE INVESTOR |Mar 19, 2015 11:46:33 AM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
What happened, is the stock stuck at 5% lower circuit at 168 Rs like shemaroo!!! no buyers ?
42. pinkyjain |Mar 18, 2015 11:35:16 PM
Will list around 135 -145
42.1. Nasirul Choudhury |Mar 19, 2015 2:04:24 AM
Top Contributor Top Contributor (300+ Posts)
That will be really really bad. Even though I didn''t subscribe I wish people to get an opportunity to exit tomorrow at 5-10% loss.
41. Sunny Patil |Mar 18, 2015 11:47:08 AM
Aapko Kase pata chala ki ortel 19th ko listing ho raha hai ...?
41.1. Nasirul Choudhury |Mar 19, 2015 2:04:55 AM
Top Contributor Top Contributor (300+ Posts)
Bhai news ayaa list hoga to likh diya.
40. Nasirul Choudhury |Mar 18, 2015 1:20:25 AM
Top Contributor Top Contributor (300+ Posts)
So, it''s listing on 19th March. Let''s see the response.
39. Nasirul Choudhury |Mar 8, 2015 12:52:42 AM
Top Contributor Top Contributor (300+ Posts)
I am anxiously waiting to see the listing price.
38. RAVI MORE |Mar 6, 2015 6:40:56 AM
Thank You Durairaj,Tirupur.You have explained it so beautifully.
37. VALUE INVESTOR |Mar 5, 2015 9:05:34 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
As per MoneyControl

"Ortel IPO closes, offer size reduced The IPO received bids for 71,23,125 shares against an offer of 94,42,575 scrips, reflecting a subscription of 0.75 times, data available with the National Stock Exchange showed. "The Ortel IPO has been successfully closed on Thursday."
36. Pooja Jain |Mar 5, 2015 8:58:19 PM
Wow...Check this...

Ortel Communications IPO successfully closed, despite it remain unsubscribed, after the offer size been reduced. As per statement from the book running lead manager, ''Ortel has successfully raised its entire primary capital requirement as stated in the IPO Red Herring Prospectus, along with providing partial exit to New Silk Route (NSR)''.

How is that possible??
36.1. Durairaj,Tirupur |Mar 5, 2015 9:25:10 PM
Top Contributor Top Contributor (300+ Posts)
New Silk Route is an private equity fund.
Guys this IPO is not a PURE IPO its a part OFS(offer for sale) too. So company issues only 60 lakh shares to raise funds, the balance shares are offered for sales by existing shareholders so the process from this will not go for the company.

So the subscription of shares has crossed 60 lakhs, which is the fresh issue hence the IPO is a success and the OFS portion will be considered as unsubscribed.

since company has raised the fund required so its a success, whereas the shares sold by existing shareholders only is still unsubscribed.

hence IPO is declared to be success.

hope this helps you guys to understand the situation.
36.2. Pooja Jain |Mar 5, 2015 9:38:32 PM
Thank you Durairaj. This totally make sense.
35. VALUE INVESTOR |Mar 5, 2015 6:04:57 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
5 PM Subscription Figures:
Total Issue Size      94,42,575
Total Bids Received      71,00,625
Total Bids Received at Cut-off Price      3,95,250
No. of times issue is subscribed      0.75
34. DURAISWAMY |Mar 5, 2015 5:25:02 PM
WHAAT HAPPEN?
CLOSED OR EXTENDED OR WITHDRAWN!
34.1. Pooja Jain |Mar 5, 2015 8:06:26 PM
Hi Duraiswami,

IPO subscribed 0.75 in total. It doesn''t seem they have extended the date, at least they have not announced.

Chances are high that it will be withdraw.

Things should clear in next few hours.

Pooja
33. montu advisor |Mar 5, 2015 5:10:14 PM
kitna bhara ortel ? 5PM ho gaya. any updates
32. MuditChopra Jaipur |Mar 5, 2015 4:48:22 PM
A clear avoid to ortel and adlabs I still hope no one will waste money by applying
31. Nasirul Choudhury |Mar 5, 2015 3:16:07 PM
Top Contributor Top Contributor (300+ Posts)
At 3 PM Subscription figures:
Total Issue Size 94,42,575
Total Bids Received 63,11,100
Total Bids Received at Cut-off Price 2,31,600
No. of times issue is subscribed 0.67
30. VALUE INVESTOR |Mar 5, 2015 3:13:49 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
3 PM Subscription figures:
Total Issue Size      94,42,575
Total Bids Received      63,11,100
Total Bids Received at Cut-off Price      2,31,600
No. of times issue is subscribed      0.67
30.2. Nasirul Choudhury |Mar 5, 2015 3:19:17 PM
Top Contributor Top Contributor (300+ Posts)
Isn''t it a lot of increase in the last one hour. Seems something fishy.
30.3. VALUE INVESTOR |Mar 5, 2015 3:23:23 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
But it is not worth putting your capital at risk as most of brokerages have told AVOID. In case of monte carlo, all brokerages told to subscribe, but still it tanked badly.
29. Nasirul Choudhury |Mar 5, 2015 3:05:49 PM
Top Contributor Top Contributor (300+ Posts)
First they will extend the dates maybe and finally it will be withdrawn. Retail Investors subscription is too low and seems Monte Carlo taught some lessons which is yet to achieve it''s issue price on exchange.
28. VALUE INVESTOR |Mar 5, 2015 2:32:39 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
At 2 PM Subscription figures:
Total Issue Size      94,42,575
Total Bids Received      42,70,350
Total Bids Received at Cut-off Price      1,80,675
No. of times issue is subscribed      0.45
27. VALUE INVESTOR |Mar 5, 2015 1:20:11 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
At 1 PM:
Total Issue Size      94,42,575
Total Bids Received      42,28,275
Total Bids Received at Cut-off Price      1,69,500
No. of times issue is subscribed      0.45
26. VALUE INVESTOR |Mar 5, 2015 12:48:17 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
12 AM subscription figures:

Total Issue Size      94,42,575
Total Bids Received      39,60,075
Total Bids Received at Cut-off Price      1,26,525
No. of times issue is subscribed      0.42
Graph Logic
25. VALUE INVESTOR |Mar 5, 2015 12:27:39 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
Looks like the IPO will find it difficult to get fully subscribed.

Source: http://www.smartinvestment.in/
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