 "IPO")
State-owned RailTel Corporation of India Ltdhas filed draft papers with capital markets regulator Sebi to raise Rs 700 crore through an initial share-sale.
The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 8.66 crore equity shares, draft papers filed with Sebi showed.
According to merchant banking sources, the IPO is estimated to fetch Rs 700 crore.
The miniratna PSU is one of the largest neutral telecom infrastructure providers in the country, owning an optical fibre network on exclusive Right of Way (RoW) along the railway track.
The company provides broadband telecom and multimedia network across the country.
As on June
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