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Cable TV and high speed broadband services provider Ortel Communications received SEBI nod for its initial public offering last week.
The IPO is a combination of an offer-for-sale of up to 81.82 lakh shares by NSR-PE Mauritius and a fresh issue of 60 lakh shares.
The company is promoted by Baijayant Panda and Jagi Mangat Panda. The company plans to deploy ₹73.67 crore for expanding its network providing video, data and telephony services, and ₹19.95 crore for capital expenditure on developing its digital cable services.
Kotak Mahindra Capital Company is the book running lead manager and Karvy, the registrar.
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