Ortel Communications, Odisha based Indian MSO has filed a draft prospectus for IPO to raise USD 18.76 million funding for development and expansion of their cable TV , broadband and internet telephony services. The public offering includes an offer to sell half of its holding in the MSO by NSR-PE Mauritius LLC which holds 35.15% stake in the company.
Ortel said, “We plan to scale up and expand our business operations in these states. We also plan to expand our business beyond our current areas of operations. Our growth strategy may involve identification of potential high-growth areas, future strategic acquisitions and partnerships,”
The company has acquired 161,285 cable TV subscribers from 259 MSOs/ LCOs since April 1, 2010 to September 30, 2012. Ortel plans to enhance their digital cable services by offering more value-added-service such as pay-per-view, mosaic viewing and interactive educational offering.