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 DateMar 3, 2015
IPO Closing DateMar 5, 2015
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹181 to ₹200 per equity share
Market Lot75 Shares
Min Order Quantity75 Shares
Listing AtBSE, 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).

ApplicationLotsSharesAmount (Cut-off)
Minimum175₹15,000
Maximum13975₹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 Subscription Status (Bidding Detail)

The Ortel Communications IPO is subscribed 0.76x times on Mar 5, 2015 18:15. The public issue subscribed 0.39x in the retail category, 1.00x in the QIB category, and 0.09x in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription
QIB

1.00x

NII

0.09x

RII

0.39x

Total

0.76x

Ortel Communications IPO Prospectus

Ortel Communications IPO Rating

91
2.8
Rating:Rated 2.8 stars

Vote Here ...

Ortel Communications IPO Listing Date

Listing DateThursday, March 19, 2015
BSE Script Code539015
NSE Symbol
Listing InT Group of Securities
ISININE849L01019
IPO Price₹181 per equity share
Face Value₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹181.00
₹181.00
₹171.95
₹181.00
₹171.95
2,964
NSE
₹181.00
₹160.05
₹160.05
₹168.05
₹162.25
26,520

Ortel Communications IPO Reviews / Ratings

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

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
   KFintech, Tower-B, Plot No 31 & 32,
   Financial District, Nanakramguda, Gachibowli,
   Hyderabad, Telangana India - 500 032.

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

Ortel Communications IPO FAQs

  1. What is Ortel Communications IPO?

    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.

  2. When Ortel Communications IPO will open?

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

  3. What is the lot size of Ortel Communications IPO?

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

  4. How to apply for Ortel Communications IPO?

    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.

  5. When Ortel Communications IPO allotment?

    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.

  6. When is Ortel Communications IPO listing date?

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

Ortel Communications IPO Message Board

Ranked Members  Ranked Members

Loading...
44. VALUE INVESTOR |Mar 19, 2015 13:11
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 10:46
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 22:35
Will list around 135 -145
42.1. Nasirul Choudhury |Mar 19, 2015 01:04
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 10:47
Aapko Kase pata chala ki ortel 19th ko listing ho raha hai ...?
41.1. Nasirul Choudhury |Mar 19, 2015 01:04
Top Contributor Top Contributor (300+ Posts)
Bhai news ayaa list hoga to likh diya.
40. Nasirul Choudhury |Mar 18, 2015 00:20
Top Contributor Top Contributor (300+ Posts)
So, it''s listing on 19th March. Let''s see the response.
39. Nasirul Choudhury |Mar 7, 2015 23:52
Top Contributor Top Contributor (300+ Posts)
I am anxiously waiting to see the listing price.
38. RAVI MORE |Mar 6, 2015 05:40
Thank You Durairaj,Tirupur.You have explained it so beautifully.
37. VALUE INVESTOR |Mar 5, 2015 20:05
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 19:58
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 20:25
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 20:38
Thank you Durairaj. This totally make sense.
35. VALUE INVESTOR |Mar 5, 2015 17:04
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 16:25
WHAAT HAPPEN?
CLOSED OR EXTENDED OR WITHDRAWN!
34.1. Pooja Jain |Mar 5, 2015 19:06
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 16:10
kitna bhara ortel ? 5PM ho gaya. any updates
32. MuditChopra Jaipur |Mar 5, 2015 15:48
A clear avoid to ortel and adlabs I still hope no one will waste money by applying
31. Nasirul Choudhury |Mar 5, 2015 14:16
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 14:13
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 14:19
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 14:23
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 14:05
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 13:32
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 12:20
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 11:48
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 11:27
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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