Ortel Communications, cable television and broadband provider in eastern India aims to almost double its revenue generating units (RGUs) to a million by March 2017, up from the existing 530,111 units. The company’s expansion plan over the next two years is estimated to cost Rs 250-300 crore.
The company’s plans to soon foray into Telengana and Madhya Pradesh, it hit the capital market in March and raised Rs 108 crore, a major part of the expansion cost will be met from IPO proceeds. While the equity part in the new investment will be around Rs 100 crore, the residual funding would be a mix of debt and internal accrual.
The company pioneered the primary point cable business model in India by offering digital and analog cable television, broadband and VAS services in Orissa, Chhattisgarh, West Bengal and Andhra Pradesh.
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