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Odisha-based Ortel Communications has raised Rs 46 crore from anchor investors by allowing 2.5 million shares at Rs 181 a piece. The cable operator and internet service provider is planning to raise Rs 270 crore from investors through an initial public offering (IPO), which will remain open between Wednesday and Friday.
The anchor investors include Axis Mutual Fund and ICICI Prudential Life Insurance. Ortel IPO-first for the current calendar year-has been priced between Rs 181 and Rs 200 per share. Kotak Mahindra is the investment banker handling the issue.
