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NSR PLANS TO EXIT ORTEL THROUGH IPO ROUTE
[October 22, 2014]

NSR PLANS TO EXIT ORTEL THROUGH IPO ROUTE


(Indian Business Insight Via Acquire Media NewsEdge) New Silk Route (NSR), private equity investor of Mauritius, is planning to exit Ortel Communications Pvt Ltd through initial public offering (IPO) route. NSR currently has 35 percent stake in Ortel for an investment of Rs82 crore made in Apr 2008. Ortel is a cable television and broadband service provider in Odisha, Chhattisgarh, Andhra Pradesh and West Bengal. Ortel is planning to enter the capital market to raise about Rs300 crore by issuing 14-18 million equity shares of face value of Rs10 each.



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