RailTel Corporation of India files DRHP for Rs. 700 cr IPO

 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