You are here: Home » Markets » IPOS » News
Business Standard

RailTel Corporation files draft papers with Sebi for Rs 700-cr IPO

The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 8.66 crore equity shares, draft papers filed with Sebi showed

Topics
Railways  | initial public offerings IPOs | Sebi

Press Trust of India  |  New Delhi 

IPO
The miniratna PSU is one of the largest neutral telecom infrastructure providers in the country, owning an optical fibre network on exclusive Right of Way (RoW) along the railway track

State-owned RailTel Corporation of India Ltdhas filed draft papers with capital regulator to raise Rs 700 crore through an initial share-sale.

The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 8.66 crore equity shares, draft papers filed with showed.

According to merchant banking sources, the IPO is estimated to fetch Rs 700 crore.

The miniratna PSU is one of the largest neutral telecom infrastructure providers in the country, owning an optical fibre network on exclusive Right of Way (RoW) along the railway track.

The company provides broadband telecom and multimedia network across the country.

As on June 30, 2020, its optical fibre network covers over 55,000 kms and 5,677 railway stations across towns and cities in the country.

ICICI Securities, IDBI Capital, SBI Capital Ltd are merchant bankers to the issue.

In December 2018, the Cabinet had approved IPO of RailTel Corporation for diluting up to 25 per cent government stake.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, October 03 2020. 02:03 IST
RECOMMENDED FOR YOU
.