Cable TV

Ortel IPO opens amidst buoyant stock market conditions

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/cable_tv_images/2015/03/03/ortel.jpg?itok=ITbOui4F

MUMBAI: The Ortel Communications issue opened on 3 March. At  the price band of Rs 181-200, the cable TV last mile operator (LMO) is offering 9.5 million shares to the public. National Stock Exchange data showed that the issue had been subscribed 0.15 times by end of day one of the offer. The company plans to use the money  raised through the issue to deepen the penetration of its cable TV and broadband offering in the geographical regions it is present i.e. Odisha, Chhattisgarh, Andhra Pradesh and West Bengal ; increasing digitisation of its cable TV subscriber base (currently 20 per cent of its analogue universe has been digitised), upgrading technology for its broadband service; buying out of local cable operators and networks, and leasing fibre infrastructure to corporates.





At the time of writing, the IPO had received a mixed response from the investing community and research analysts. While one group says the price band is too high, another bunch has expressed that the Ortel stock has long legs and could go far. 





Says a bullish observer: ?The Ortel IPO offer is at 10 times EBIDTA for FY 2015. That?s pretty fair compared to 17 times EBIDTA for Hathway Cable & Datacom and seven times EBIDTA for DEN Networks,? says a research analyst. ?We see the share appreciating after listing.?





However, a bear stated that Hathway was quoting in the Rs 60-65 range, while DEN was in the Rs 120 band. ?The Ortel price is too high when you compare it to what these stocks have notched up,? she said. ?We expect to pick up Ortel after listing when we believe the overpricing will get corrected.?





An ICICI Direct IPO review pointed out that Ortel?s low subscriber base of 0.5 million cable TV homes puts it at a competitive disadvantage against national MSOs such as DEN and Hathway which have 12 million subscribers each. 





But another industry expert  points out that Ortel owns most of its subscriber base, aka as the last mile, which means it will reap the digital dividend and the moolah will straightaway accrue to its top line, and bottom line as it digitally connects more of them.





He also points out to the low floating stock of Ortel that is on offer, which is likely to keep the price buoyant.





At the time of writing, a positive sentiment had been ruling on the stock market with the National Stock Exchange Nifty  crossing an important threshold that of the 9,000 barrier which it did during intraday trading only to fall back to 8996 by close.





The anchor investors for the IPO are Axis Mutual Fund (900,000 shares) and ICICI Prudential Life Insurance (1.657 million shares), while Kotak Mahindra Capital is managing the issue.





The next two days (the issue is slated to close on 5 March) will throw clarity on which sentiment will hold its sway on investors during Ortel's offering. 

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/11/act.jpg?itok=jNeP51zC
ACT Fibernet seeks funding; discloses financials

In its prospectus with SEBI, ACT Fibernet submitted the financial details and is looking for fund-raising to expand the business across India. ACT Fibernet reported revenue of Rs 1,217 crore and EBITDA of Rs 211.67 crore in fiscal 2017.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/05/hathway.jpg?itok=3H7_WXyA
Hathway to target existing users for new OTT, cable hybrid STBs

Indian consumers are not losing interest in linear TV anytime soon but one can’t be too wary given the OTT burst. To stay ahead of the game, Hathway has unveiled two new products – an OTT set-top box and a cable hybrid box. Both of the boxes have been priced at Rs 2999.

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/01/pankraj_1.jpg?itok=YCyiTCA0
Carriage fees have dropped in 2018 : Chrome DM Carriage Optimizer Report

Carriage fees have dropped by approximately 5 per cent for existing deals and by about 7 per cent for new channel launches is one of the highlights of the seventh edition (R7) of the Chrome Carriage Optimizer Annual Report (CCO) by Chrome Data Analytics & Media (Chrome DM).

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/11/siti.jpg?itok=jXHpwkyJ
SITI Networks Limited announces “SITI PlayTop”, its first Hybrid Set Top Box

SITI Networks Limited, has announced that it will be introducing a range of Set Top Boxes for delighting its customers. To begin with, the company has announced, “SITI PlayTop”, its first Hybrid Set Top Box.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/04/siti.jpg?itok=JOG8pkn3
Siti relooks at broadband as cable subscription drove revenues in FY18

In FY 2017 (fiscal or year ended 31 March 2017, previous year), the Essel Group’s Siti Networks Ltd (Siti) was all gung-ho about broadband. In its annual report for fiscal 2017, the company said that it had become the largest multi-system operator (MSO) and a leading wired broadband services...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/01/Digital.jpg?itok=v-WMvuRl
Pay TV execs feel need to innovate to remain relevant, finds study

With the advent of digital content platforms, pay TV industry across the world is facing stiff competition. The pay TV Innovation Forum report produced by Nagra in association with research firm MTM, found that 90 per cent of executives believe that pay TV providers will have to innovate strongly...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/08/29/hathway.jpg?itok=iFsVkbju
Hathway Cable gets approval to raise funds worth Rs 99.63 crore

MUMBAI: Leading cable and broadband player Hathway received an approval to raise funds worth Rs 99.63 crore at a board meeting held on 29 August. Following the approval the company’s shares rallied as much as 15 per cent.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/08/28/zee_1.jpg?itok=pRptDAIa
ZEEL announces new TV channel prices ahead of deadline

Ahead of 31 August 2018 deadline for publishing TV channel prices in a new format and a day before the Supreme Court hears a case relating to TRAI’s new tariff regime, Zee Entertainment Enterprises Ltd  (ZEEL) has made public its channel prices as suggested by the regulator in 2016, setting an...

Cable TV Local Cable Operators
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/08/28/gtpl.jpg?itok=WHQxgPNL
GTPL Hathway to promote 40 Mbps broadband speed to masses

As wireline broadband business is emerging as a sector full of growth opportunities, several cable operators, as well as MSOs, are increasing their investment in the segment. GTPL Hathway, the Gujarat based cable and broadband player, is ready to lower its ARPU in the broadband segment to get more...

Cable TV Local Cable Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories