Railtel’s Rs. 700 Crore IPO To Hit Early Next Year

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Another railway sector undertaking is set to hit markets next year. Yes Railtel is in queue to come up with its Rs. 700 public issue. The company commands a valuation of around Rs. 3000 crore.

The company is now putting the building blocks in the place and as per a leading dailies report the required number of independent directors are not in the company’s board.

The miniratna PSU is the leading neutral telecom infrastructure providers in the country that owns an optical network on exclusive Right of Way (RoW) along the railway tracks. Additionally, it also provides telecom and multimedia networks across the country.

“We will continue to grow exponentially. Similarly, we have dedicated leased line service which has been provided to various institutions, including 722 universities and colleges. Now this service will have to be provided to other institutions as they require this. We see tremendous demand and we will be upgrading our network capacity,” the RailTel chief told the publication.

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