NEW DELHI: Mini Ratna RailTel Corporation of India, which is among the largest neutral telecom infrastructure providers in India, is hitting the market with an Rs 820-crore initial public offer (IPO) on Tuesday.
The last railway IPO that hit the Street of IRFC had a weak market debut. But grey market trends suggest investors are betting big on the forthcoming offering.
A wholly-owned government subsidiary under the administrative control of the Ministry of Railways, RailTel offers a diversified portfolio of services and solutions. As of Jan. 31, it had exclusive rights over 67,415 route kilometers, connecting 7,321 railway stations, for laying optical fiber cable. The company offers a high capacity bandwidth of up to 800G at 87 locations in India.
Synopsis
The quota for retail investors in RailTel IPO is fixed at 35 per cent of the net offer.
Agencies
RailTel shares is likely to list on the stock exchanges by February 26.
NEW DELHI: RailTel Corporation, a PSU that provides internet services for the Indian rail system along with other things, is scheduled to launch its initial public offer (IPO) next week. The government will sell 27 per cent in the company to raise Rs 819 crore.
RailTel will not receive any proceeds from the offer and all such proceeds will go to the government, helping it with constrained finances.
Here is everything you need to know about RailTel IPO: