Net Offer will comprise of 8.66 cr shares, Issue is a complete OFS by GoI
Mumbai, Oct 2, 2020: One of the largest neutral telecom
infrastructure services provider, RailTel, a category 1 mini ratna, central
public sector enterprise wholly owned by the Government of India and under the
administrative control of the Ministry of Railways, as per market sources has
filed for their Initial Public Offering to raise approximately 700 crs. The
operations of the company have been funded entirely by internal accruals since
2013 currently enjoy a debt free status.
RailTel was incorporated in 2000 and provides telecom network and
infrastructure services, managed data center and hosting services and system
integration services to Government and Non-Government Customers and aims to
modernize the existing telecom system for train control, operations and safety
besides creating a nationwide broadband and multimedia network by laying
optical fiber cable along the railway tracks. It serves as a key network for
the Indian Railways and has been executing projects of national importance such
as National Knowledge Network (NKN) and Bharat Net.
As on June 30, 2020 its optic fiber network covers over 55,000 kms and
5677 railway stations across towns and cities in the country
ICICI Securities, IDBI Capital, SBI Capital Markets Ltd are appointed as
the BRLMs to the Issue
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