Updated Mar 04, 2021 | 18:24 IST
RailTel expects to rake in Rs 10-15 crore in revenues annually from its paid high-speed wifi service launched across 4,000 stations. RailTel launches Wi-fi plans at 4000 railway stations; first 30 mins free | Photo Credit: Representative Image
Key Highlights
In pre-Covid time more than 2.9 cr people were using the service monthly.
More than 5,950 Indian railway stations have the facility of wifi
State-run RailTel Corporation of India, under the Ministry of Railways, has launched its high-speed Wi-Fi service at more than 4,000 railway stations across the country.
The central public sector enterprise (CPSE) as part of its Railwire Wi-Fi service has launched several high-speed prepaid plans. They provide 30 minutes of free access per day at 1 Mbps speed across the eligible railway stations after which users can choose a plan with higher speed by paying a nominal fee.
NEW DELHI: RailTel Corporation of India s Rs 820 crore initial public offer (IPO), which has been seeing strong retail participation at bids totaling 11 times the issue size so far, closes for subscription on Thursday.
Surprisingly, the premium that unlisted shares of the company were enjoying in the grey market has plunged over the past few days. Analysts have largely been positive on the issue, as the Mini Ratna firm is debt-free and has been a consistent dividend payer. The RailTel IPO is seeking a fair valuation of 21.4 times PE on a FY20 trailing basis at the upper limit of Rs 93-94 price band, they said.
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Updated Feb 16, 2021 | 12:48 IST
RailTel s IPO opened for subscription on Tuesday. The price band of the issue has been fixed Rs 93-94. It commanded 37% GMP over the upper band of issue price as of February 16 RailTel IPO opens for subscription: Brokerages weigh in on co s strengths, risks | Photo Credit: PTI
Telecom infrastructure corporation company RailTel Corporation of India’s Rs 819.24-crore initial public offer (IPO) opened for subscription on February 16. The Mini Ratna (category-I) company offers 8.71 crore equity shares of the public sector company via the offer for sale (OFS) route.
Government of India which holds 100% stake in the company aims to pare its holding to 72.8% in the information & communication technology (ICT) PSU and post-issue public holding will be 27.16%.
RailTel Corporation shares trade at 43% premium in grey market ahead of IPO
The issue, which comprises a full offer for sale of 8,71,53,369 equity shares by the Government of India, will fetch the government Rs 819.24 crore at higher price band. February 12, 2021 / 11:32 AM IST
RailTel Corporation of India, one of the largest neutral telecom infrastructure providers in India, traded at a 43 percent premium to the issue price in the grey market on February 11, ahead of public issue opening next week.
The public offer will open for subscription on February 16 and the same will close on February 18. The company has fixed issue price band at Rs 93-94 per share.