Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Ortel Communications IPO is a book build issue of ₹173.65 crores. The issue is a combination of fresh issue of 0.60 crore shares aggregating to ₹108.60 crores and offer for sale of 0.36 crore shares aggregating to ₹65.05 crores.
Ortel Communications IPO bidding started from Mar 3, 2015 and ended on Mar 5, 2015. The shares got listed on BSE, NSE on Mar 19, 2015.
Ortel Communications IPO price band is set at ₹181.00 per share . The lot size for an application is 75. The minimum amount of investment required by an retail is ₹13,575 (75 shares). The lot size investment for sNII is 15 lots (1,125 shares), amounting to ₹2,03,625, and for bNII, it is 74 lots (5,550 shares), amounting to ₹10,04,550.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Ortel Communications IPO RHP for detailed Information.
| IPO Date | March 3, 2015 to March 5, 2015 |
| Listing Date | March 19, 2015 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹181 to ₹200 per share |
| Issue Price Final | ₹181 per share |
| Lot Size | 75 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 95,93,850 shares (aggregating up to ₹173.65 Cr) |
| Fresh Issue | 60,00,000 shares (aggregating up to ₹108.60 Cr) |
| Offer for Sale | 35,93,850 shares of ₹10 (aggregating up to ₹65.05 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,43,65,464 shares |
| Share Holding Post Issue | 3,03,65,464 shares |
Ortel Communications IPO offers total 1,20,00,000 shares. Out of which 90,00,000 (75.00%) allocated to QIB, 64,42,575 (53.69%) allocated to QIB, 18,00,000 (15.00%) allocated to NII, 12,00,000 (10.00%) allocated to RII and 25,57,425 (21.31%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 90,00,000 (75.00%) | NA |
| − Anchor Investor Shares Offered | 25,57,425 (21.31%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 64,42,575 (53.69%) | NA |
| NII (HNI) Shares Offered | 18,00,000 (15.00%) | NA |
| Retail Shares Offered | 12,00,000 (10.00%) | 16,000 |
| Total Shares Offered | 1,20,00,000 (100.00%) |
Ortel Communications IPO opens on March 3, 2015, and closes on March 5, 2015.
| IPO Open Date | Tue, Mar 3, 2015 |
| IPO Close Date | Thu, Mar 5, 2015 |
| Tentative Listing Date | Thu, Mar 19, 2015 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Mar 5, 2015 |
Investors can bid for a minimum of 75 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹13,575 |
| Retail (Max) | 14 | 1,050 | ₹1,90,050 |
| S-HNI (Min) | 15 | 1,125 | ₹2,03,625 |
| S-HNI (Max) | 73 | 5,475 | ₹9,90,975 |
| B-HNI (Min) | 74 | 5,550 | ₹10,04,550 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Particulars | For the year/period ended (in Rs. Million) | ||||
| 30-Sep-14 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | 31-Mar-11 | |
| Total Income | 719.34 | 1350.36 | 1218.05 | 1212.75 | 982.51 |
| Profit After Tax (PAT) | 6.61 | (120.64) | (250.98) | (169.24) | (190.37) |
| KPI | Values |
|---|---|
| RoNW | -243.7% |
The Company Ortel Communications IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Expansion of the network for providing video, data and telephony services | 67.98 |
| 2 | Capital expenditure on development of the digital cable services | 16.74 |
| 3 | Capital expenditure on development of the broadband services | 10.51 |
| 4 | General corporate purposes | 5.71 |
[Dilip Davda] <p><strong>At the asking price this negative P/E IPO is a risky bet and hence no harm giving it a miss.</strong></p> <p>(Disclaimer: Author has no plans to invest in this IPO)</p> Read detail review...
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:
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.
| Listing Date | March 19, 2015 |
| BSE Script Code | 539015 |
| NSE Symbol | ORTEL |
| ISIN | INE849L01019 |
| Final Issue Price | ₹181 per share |
| BSE Listing Group | T |
Ortel Communications Ltd.
Ortel Communications Ltd,
B 7/122A Safdarjang Enclave,
New Delhi - 110029, Delhi
New Delhi, New Delhi
Phone: 91-11-46868800
Email: ipo@ortelgroup.com
Website: http://www.ortelcom.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: ortel.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
Ortel Communications IPO is a main-board IPO of 95,93,850 equity shares of the face value of ₹10 aggregating up to ₹173.65 Crores. The issue is priced at ₹181 per share. The minimum order quantity is 75.
The IPO opens on March 3, 2015, and closes on March 5, 2015.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ortel Communications IPO using UPI as a payment gateway. Zerodha customers can apply in Ortel Communications IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ortel Communications IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ortel Communications IPO opens on March 3, 2015 and closes on March 5, 2015.
Ortel Communications IPO lot size is 75, and the minimum amount required for application is ₹13,575.
You can apply in Ortel Communications IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
Useful Articles
RHP