Will focus on expanding geographies post IPO: Ortel Comm

The regional cable TV services provider expects number of subscribers to go up post fund raising.

The three-day initial public offering of Ortel Communications was initiated on March 3 and was subscribed 0.15 times on the first day itself. The company has already raised Rs 46 crore via anchor investment and is expected to mop-up around Rs 240 crore at the upper band by the end of the IPO.

Speaking to CNBC-TV18, Bibhu Prasad Rath, President and CEO, Ortel Communications said the company will be focusing on eaxpanding geographies post the IPO. Currently, majority of company's customers are in Odisha. It also has minor presence in Andhra Pradesh, West Bengal and Chhattisgarh.

The regional cable TV services provider expects number of subscribers to go up post fund raising, said Rath.

Proceeds of the issue would be utilised for expansion of the company's network for providing video, data and telephony services and general corporate purpose.

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