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 fully Offer for Sale (OFS) by the Government of India.
ICICI Securities, IDBI Capital, SBI Capital Markets are the book running lead managers of this IPO. RailTel is one of the largest telecom infrastructure companies in the country. It is the only company to have a special right of way (RoW) for laying optic fiber network along railway tracks.
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 Corona virus, 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.
