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IPO 2020: RailTel will raise Rs 700 crore from IPO, filed with SEBI

RailTel IPO Market:

State-owned RailTel Corporation (RailTel) plans to raise Rs 700 crore through an IPO. For this, the company has filed a draft paper with the market regulator SEBI. RailTel Corporation comes under the Ministry of Railways. There will be 8.66 crore shares net offer in the IPO. This IPO will be completely Offer for Sale (OFS) by the Government of India.

The book running lead managers of this IPO are ICICI Securities, IDBI Capital, SBI Capital Markets. RailTel is one of the largest telecom infrastructure companies in the country. It is the only company that has a special right of way (RoW) to lay the optic fiber network along the railway track.

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IPO is getting a great response

Let me tell you that in the first half of the year 2020, there was a drought of the IPO due to the effect of Coronavirus, while in the second half there is a sharp stir in the IPO market. Since September, 4 companies have lost their share in the market. These include Happiest Minds, Root Mobile, Cams and Chemcon Specialty. At the same time, 6 companies have been listed this year, while 4 will be in the next 2 to 3 trading days.

In fact, after the lockdown opens, a fast recovery is expected in the economy. Due to this, companies are raising money from the market to reap the benefits of this growth. The way the IPO this year is getting a response from the investors, in the coming days, there may be more stir in the primary market.

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RailTel was established in 2000

RailTel was founded in 2000 as a Mini Ratna company. It operates a nationwide broadband, telecommunication and multimedia network to modernize train control operations and security systems of Indian Railways. Please tell that RailTel’s OFC network is present in all the important cities and rural areas of India and covers 70 percent of the country’s population.

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5,677 railway station cover

By June 30, 2020, a total of 55 thousand kilometers were covered through the fiber network across the country, while 5,677 railway stations were covered. Its purpose is to modernize the existing telecom system for train control, operation and security, besides making nationwide broadband.

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Source: www.financialexpress.com

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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