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Subscribe to RailTel corporation of india: Mehta Equities

Mehta Equities has come out with its report on RailTel corporation of india. The research firm has recommended to ''Subscribe'' the ipo in its research report as on February 16, 2021.

February 18, 2021 / 12:51 PM IST
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Mehta Equities IPO report on RailTel corporation of india

RailTel Corporation of India Limited (Railtel) is a Mini Ratna (Category-I) Central Public Sector Enterprise, wholly owned by the Government of India and under the administrative control of the Ministry of Railways. It is an information and communications technology (ICT) infrastructure provider and is one of the largest neutral telecom infrastructure providers in India. It provides services like Telecom network Services National Long Distance services, ISP, Telecom Infrastructure Services, Managed Data Center and Hosting Services & Projects (system integrated services). Railtel operates data centres in Gurugram, Haryana and Secunderabad, Telangana to host and collocate critical applications for customers including the Indian Railways. As of January 31, 2021, its optic fiber network covers over 59,098 route kms and covers 5,929 railway stations across towns and cities in India.

Valuation and Outlook

On valuations parse at upper price band (Rs 94/-), the issue is asking for market cap Rs 3017 Cr with PE (annualised FY21) 33x and P/BV stands at 2x which seems to be fairly priced. Hence, looking at the faster digital transformation of Indian Railways and future growth prospects, we recommend investors to ‘SUBSCRIBE FOR LISTING GAIN” only.

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