RailTel Corporation of India has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 700 crore through an initial public offering (IPO).
The IPO is entirely an offer-for-sale through which government will offload 8.66 crore equity shares. ICICI Securities, IDBI Capital, SBI Capital Markets are merchant bankers to the issue.
RailTel Corporation a ‘Mini Ratna (Category-I)’ PSU is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The company provides broadband telecom and multimedia network across the country.
