Cable TV
Ortel Communications files RHP for public issue
MUMBAI: Odisha based last mile owner (LMO) Ortel Communications has filed the Red Herring Prospectus (RHP) for a public issue.
Confirming the same to Indiantelevision.com, Ortel Communications president and CEO Bibhu Prasad Rath said, “Yes, the RHP has been filed and the issue is scheduled to open on 3 March.”
The company had filed for the Draft Red Herring Prospectus (DRHP) in September 2014.
The LMO is looking at a primary issue of 60 lakh shares and sale of another 60 lakh share by New Silk Route, which currently owns 35 per cent share in the company.
The IPO, which is being handled by Kotak Mahindra Capital, may raise close to Rs 250 crore. Ortel Communications will be utilising the funds for expansion of its network for providing video, data and telephony services. Additionally the company is also looking at developing its digital cable and broadband services with the infusion of funds.
This issue is being made through the book building process wherein at least 75 per cent of the Issue shall be allotted to qualified institutional bidders (QIBs) on a proportionate basis out of which five per cent of the QIB portion (excluding the anchor investor portion, which shall be allocated on a discretionary basis) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder shall be available for allocation on a proportionate basis to all QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.
Further, not more than 15 per cent of the issue will be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the Issue will be available for allocation to retail individual bidders, subject to valid bids being received at or above the issue price.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
