RailTel Corporation of India Ltd files papers submit in Sebi for IPO

RailTel Corporation of India Ltd files papers submit in Sebi for IPO

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RailTel Corporation of India Ltd It will be entirely an offer-for-sale through which the Centre will offload 8.66 crore equity shares

Set up in 2000, the miniratna PSU is one among the most important neutral telecom infrastructure providers within the country

State-owned RailTel Corporation of India Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering which will see the govt raise Rs 700 crore from the exercise.

The initial public offer (IPO) are going to be entirely an offer-for-sale through which the Centre will offload 8.66 crore equity shares, the draft papers filed with Sebi showed.

Set up in 2000, the miniratna PSU is one among the most important neutral telecom infrastructure providers within the country. It owns an optical fiber network on prerogative of way along the railway track. the corporate provides broadband telecom and multimedia network across the country.

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

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

RailTel Corporation of India Ltd files papers submit SEBI

The information and technology (ICT) infrastructure provider also operates data centres in Gurgaon, Haryana, Secunderabad and Telangana to host and collocate critical applications for patrons , including Indian Railways.

It undertakes various ICT projects for Indian Railways, the central government and state governments, including various train system projects for Indian Railways.

The company’s portfolio of services include National Long Distance services wherein it provides digital capacity to hold long-distance telecommunication services and includes various tele-services like voice, data, video and multimedia.

Its revenue from operations grew at a compounded annual rate of growth of 7.47 per cent to Rs 1,128 crore within the year ended March 31, 2020 from Rs 977 crore in 2017-18.

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