RailTel IPO Process Increase Force
RailTel Corporation IPO will hit the market in the next fiscal. Through this offer, the government will divest up to 25% of stake in RailTel firm. The firm initiated the RailTel IPO Process and will manage by the Ad agency. So, it is looking for advertising firms to manage the listing process of the IPO.
We have already heard that DIPAM and the Ministry of Railways are looking to launch RailTel and IRFC IPOs. Now, DIPAM (Department of Investment and Public Asset Management ) is looking for ad agencies. Moreover, DIPAM, RailTel, and Book Running Lead Managers (Underwriters) will decide the price of the Ad agency.
According to the report, the CCEA (Cabinet Committee on Economic Affairs) approved six public sector companies to list its shares in December. In this list, RailTel IPO is the main one. RailTel is also known as a MiniRatan PSU.
In this fiscal, the IRCTC IPO listed from the Railway agency. As of the reports, the IRCTC IPO was subscribed over 111 times. Moreover, the IRCTC shares also listed over the premium to issue price. The government has planned to dilute 12 percent of stake in IRCTC through the public offering. Now, RailTel is the second firm that gov plans to divest its stake.
A source said that at the start of this fiscal, Rail Vikas Nigam Limited (RVNL) launched an IPO. It raised Rs 466 crore through the offer. Hence, 12 percent of the RVNL stake had seized by the government.