Government plans to divest up to 25 per cent stake in RailTel through an IPO
November 06, 2019
As per industry sources, the government is planning to divest up to 25 per cent stake in RailTel Corporation through initial public offering (IPO).
To this end, the government is reportedly looking for advertising agencies to manage the listing process. The cost of hiring the ad agency will be borne by the Department of Investment and Public Asset Management (DIPAM), RailTel and the Book Running Lead Managers (BRLMs).
The IPO is expected to be introduced in the market around mid-January 2020.
Earlier in December 2018, the Cabinet Committee on Economic Affairs had approved a plan to list six public sector companies, including RailTel.
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