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Government planning to raise Rs 3 billion through RailTel’s IPO

May 14, 2019
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The government is planning to raise over Rs 3 billion through an initial public offering (IPO) of RailTel Corporation of India. To this end, the government has asked RailTel to speed up finalising its books of accounts for the year 2018-19.

The IPO is expected to be launched in September 2019. The Department of Investment and Public Asset Management (DIPAM) will be appointing merchant bankers and legal advisers for launching RailTel’s IPO soon.

In December 2018, the Cabinet Committee on Economic Affairs had approved a plan to list six public sector companies, including RailTel Corporation of India. Further, the Union Cabinet had approved RailTel’s IPO by diluting up to 25 per cent government stake.

RailTel, a miniratna public sector undertaking (PSU) is one of the largest neutral telecom infrastructure providers in the country that owns optic fibre network through exclusive right of way (RoW) along railway tracks.

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