Choice Equity Broking IPO report on Railtel corporation of india
RailTel Corporation of India Ltd. (RailTel), a miniratna fully owned by the central government that provides telecom & data services to the public and private sectors is planning to raise up to Rs. 8,200mn through an IPO, which opens on 16th Feb. and closes on 18th Feb. 2021. The price band is Rs. 93 - 94 per share. • The issue comprises of OFS issue only. Thus company will not receive any fund from the IPO.
Valuation and Outlook
However, considering the futuristic service & growth plans of the IR and RailTel’s ability to monetize its existing assets through subscription plans and co-sharing with private operators, we feel that fundamentals are positive for the company. Thus we assign a “SUBSCRIBE” rating for the issue.
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