The price band of the Offer has been fixed at Rs. 93 to Rs. 94 per Equity Share of face value of Rs. 10 each. The Company and the Selling Shareholders may, in consultation with the book running lead managers (the “BRLMs”), consider participation by Anchor Investors, in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended.
The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Monday, February 15, 2021.
The Offer will comprise up to 87,153,369 equity shares of face value of ₹10 each and the Offer will be a complete offer for sale by the Government of India. The Company will not be directly receiving any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholder.
The objects of the Offer are to carry out the disinvestment of 87,153,369 Equity Shares held by the Selling Shareholder; and to achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The QIB portion of the net offer shall be not more than 50%; not less than 35% of the net offer shall be available for allocation to Retail Individual Bidders and not less than 15% of the net offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders.
RailTel is one of the largest neutral telecom infrastructure providers in the country (Source: CRISIL Report “Assessment of the telecom and telecom data services industry in India” dated September 2020) having a 59,098 route kilometers of optical fiber cable network which has connected 5,929 railway stations across towns and cities in India (as of January 31, 2021).
RailTel offers a diversified portfolio of ICT services and solutions including MPLS-VPN, leased lines services, TPaaS, e-Office services and data center services, large network hardware system integration, software and digital services to enterprises, public sector banks, defense organisations and educational institutions; operated through data centers located in Gurugram, Haryana, Secunderabad and Telangana to host and collocate critical applications for customers including the Indian Railways.
RailTel is also appointed by the Ministry of Railways for implementation of the Hospital Management Information System and also allotted its e-Office Project Phase 3 project to RailTel.
ICICI Securities Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited are appointed as the BRLMs to the Offer.