Cable TV

Ortel Communications files RHP for public issue

MUMBAI: Odisha based last mile owner (LMO) Ortel Communications has filed the Red Herring Prospectus (RHP) for a public issue.

Confirming the same to, Ortel Communications president and CEO Bibhu Prasad Rath said, "Yes, the RHP has been filed and the issue is scheduled to open on 3 March."

The company had filed for the Draft Red Herring Prospectus (DRHP) in September 2014.

The LMO is looking at a primary issue of 60 lakh shares and sale of another 60 lakh share by New Silk Route, which currently owns 35 per cent share in the company.

The IPO, which is being handled by Kotak Mahindra Capital, may raise close to Rs 250 crore. Ortel Communications will be utilising the funds for expansion of its network for providing video, data and telephony services. Additionally the company is also looking at developing its digital cable and broadband services with the infusion of funds.

This issue is being made through the book building process wherein at least 75 per cent of the Issue shall be allotted to qualified institutional bidders (QIBs) on a proportionate basis out of which five per cent of the QIB portion (excluding the anchor investor portion, which shall be allocated on a discretionary basis) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder shall be available for allocation on a proportionate basis to all QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.

Further, not more than 15 per cent of the issue will be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the Issue will be available for allocation to retail individual bidders, subject to valid bids being received at or above the issue price.

Attached is the PDF

Latest Reads
Punjab govt. studying Arasu & other regulatory models on distribution

NEW DELHI:  The Punjab Government is said to be studying Tamilnadu Arasu Cable TV Corporation (TACTV) model as also some other regulatory setups as part of a proposal to explore bringing about more transparency in  cable TV distribution system in the State, while breaking any monopoly that exists.

Cable TV Multi System Operators
DEN Networks allots Rs 7.5 mn worth shares for eSOP

MUMBAI: DEN Networks Limited has informed the corporate  relationship department of the National Stock Exchange of India and BSE Limited that it has allotted shares under DEN eSOP Plan B, 2014. In a communique signed by DEN company secretary Jatin Mahajan, it stated: This  is to inform you that...

Cable TV Multi System Operators
GTPL boosts channels & OTT with Harmonic, can deliver to 8 mn homes

MUMBAI: Harmonic, a leader in video delivery infrastructure, announced that GTPL, India's leading digital cable TV distribution company, which reaches an estimate of more than 8 million households in more than 189 cities, has deployed a next-generation software-based unified video headend system...

Cable TV Multi System Operators
Supreme Court stays order on entertainment tax by LCOs

The Supreme Court today stayed an order of the Entertainment Department of Delhi Government that entertainment tax should be paid by local cable operators with effect from 1 April 2013.

Cable TV Local Cable Operators
Hinduja's NXT Digital enters Fastway-dominated Punjab

It was announced with much fanfare, which simmered down. Now the Hinduja group promoted HITS platform NXT Digital has once again started making news.

Cable TV Multi System Operators
Rajesh Sethi re-designated chief biz transformation officer of Siti Networks

Rajesh Sethi, who had been appointed as executive director and CEO of Siti Networks sometime back, has been re-designated as chief business transformation officer of the company with immediate effect.

Cable TV People
Fox's Asia SVP Joe Welch named CASBAA board chairman

CASBAA, Asia’s media association serving the multichannel audio-visual content creation and distribution industry, has announced that Joe Welch has been named as the chairman of its board of directors.

Cable TV Local Cable Operators
Dish TV, Hathway & Den amongst top 10 global Pay TV platforms

MUMBAI: Indian companies -- Dish TV, Hathway & Den Networks are amongst the top 10 global Pay TV platforms, according to the Global Pay TV Operator Databook from Digital TV Research. For the top 10 operators, the global TV revenue share was 55 per cent in 2016, with the leading 50 operators...

Cable TV Multi System Operators
170 TN companies start providing Arasu Net, IPTV plan under way

MUMBAI: In all 170 Tamil Nadu companies have started providing Arasu internet services in the state. For providing IPTV (Internet Protocol Television) service, a detailed project report was under process. Arasu Cable TV had floated expression of interest (EoIs) to become business partners on...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories