Moneycontrol Bureau
Ortel Communications has allotted 25,57,425 equity shares at Rs 181 apiece to Axis Mutual Fund and ICICI Prudential Life Insurance. The company raised Rs 46.29 crore through issue of shares to these anchor investors.
"Amongst anchor investors, Axis Mutual Fund (Midcap Fund) has been allotted 6 lakh shares; Axis Mutual Fund (Small Cap Fund) 3 lakh shares and ICICI Prudential Life Insurance has been allotted 16.57 lakh shares aggregating to 25,57,425 lakh shares," the company said in its release.
Ortel Communications' public issue of 1.2 crore shares has opened for subscription on March 3 and the same will close on March 5.
The company is a regional cable television and high speed broadband services provider focused in the Indian states of Odisha, Chhattisgarh, West Bengal and Andhra Pradesh.
The price band is fixed at Rs 181-200 per equity share. The issue comprises a fresh issue to the public of up to 60 lakh shares (fresh issue) and an offer for sale of up to 60 lakh shares (offer for sale) by NSR-PE Mauritius LLC (selling shareholder).
The minimum bid lot is 75 equity shares and in multiples of 75 equity shares thereafter. The issue constitutes 39.25 percent of the fully diluted post-issue paid up equity share capital of the company.
The equity shares are proposed to be listed on the NSE and the BSE.
The book running lead manager to the issue is Kotak Mahindra Capital Company Limited.
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