)
Shares of Ortel Communications were trading at Rs 165, a 9% below its issue price of Rs 181 on the National Stock Exchange (NSE) at noon deal trade.
The stock fell below issue price in opening trade itself. It opened at Rs 160 and touched high of Rs 168 on the NSE so far.
The company raised Rs 174 crore by issuing 9.59 million equity shares at price of Rs 181 per share through initial public offer (IPO). The company had priced the IPO at the lower end of the Rs 181 to Rs 200 per share price band.
Ortel Communications is a regional cable television and high speed broadband services provider focused on Odisha, Chhattisgarh, Andhra Pradesh and West Bengal.
Till 1346 hours, a combined 26,725 shares changed hands on the counter on the NSE and BSE.
The stock fell below issue price in opening trade itself. It opened at Rs 160 and touched high of Rs 168 on the NSE so far.
The company raised Rs 174 crore by issuing 9.59 million equity shares at price of Rs 181 per share through initial public offer (IPO). The company had priced the IPO at the lower end of the Rs 181 to Rs 200 per share price band.
Ortel Communications is a regional cable television and high speed broadband services provider focused on Odisha, Chhattisgarh, Andhra Pradesh and West Bengal.
Till 1346 hours, a combined 26,725 shares changed hands on the counter on the NSE and BSE.
