Bookbuilding IPO | ₹174 Cr | Listed at BSE, NSE | Tue, Mar 3, 2015 - Thu, Mar 5, 2015
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 per share. The lot size for an application is 75. The minimum amount of investment required by an retail is ₹15,000 (75 shares) (based on upper price). 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 Open
Tue, Mar 3, 2015
IPO Close
Thu, Mar 5, 2015
Issue Price
₹181 per share
Market Cap (Pre-IPO)
₹549.61 Cr
| IPO Date | 3 to 5 Mar, 2015 |
| Listed on | Thu, Mar 19, 2015 |
| Face Value | ₹10 per share |
| Price Band | ₹181 to ₹200 |
| Issue Price | ₹181 per share |
| Lot Size | 75 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 95,93,850 shares (agg. up to ₹174 Cr) |
| Fresh Issue | 60,00,000 shares (agg. up to ₹109 Cr) |
| Offer for Sale | 35,93,850 shares of ₹10 (agg. up to ₹65 Cr) |
| Share Holding Pre Issue | 2,43,65,464 shares |
| Share Holding Post Issue | 3,03,65,464 shares |
| BSE Script Code / NSE Symbol | 539015 / ORTEL |
| ISIN | INE849L01019 |
Ortel Communications IPO comprises a total issue size of 1,20,00,000 shares. Out of which, 90,00,000 (75.00%) are allocated to QIB, 18,00,000 (15.00%) allocated to NII 12,00,000 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 75 shares and in multiples thereof.
| 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 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | |
|---|---|
| RoNW | -243.7% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 64.03% | 51.38% |
| Market Cap | ₹549.61 Cr. |
The Ortel Communications IPO is subscribed 0.76 times on March 5, 2015 6:15:00 PM (Day 3). The public issue subscribed 0.39 times in the retail category, 1 times in the QIB category, and 0.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1 | 64,42,575 | |
| NII | 0.09 | 18,00,000 | |
| Retail | 0.39 | 12,00,000 | |
| Total | 0.76 | 94,42,575 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fees | 7.00 |
| 2 | Underwriting commission, brokerage and selling commission | 0.05 |
| 3 | Commission payable to SCSBs and Non Registered Syndicate Brokers | |
| 4 | Registrar’s fees | 0.07 |
| 5 | Advertisement and marketing expenses | 1.60 |
| 6 | Printing and distribution expenses | 0.10 |
| 7 | Advisors | 1.22 |
| 8 | Bankers to the Issue | |
| 9 | Others (SEBI filing fees, bidding software expenses, depository charges, listing fees, SCSB’s processing fees, etc.) | 1.41 |
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.
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹181.00 | ₹181.00 |
| Open | ₹181.00 | ₹160.05 |
| Low | ₹171.95 | ₹160.05 |
| High | ₹181.00 | ₹168.05 |
| Last Trade | ₹171.95 | ₹162.25 |
Lead Manager Reports
Ortel Communications IPO is a main-board IPO of 95,93,850 equity shares of the face value of ₹10 aggregating up to ₹174 Crores. The issue is priced at ₹181 per share. The minimum order quantity is 75.
The IPO opens on Tue, Mar 3, 2015, and closes on Thu, Mar 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 Tue, Mar 3, 2015 and closes on Thu, Mar 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 Thu, Mar 19, 2015.
