JSA advised on the Initial Public Offering of RailTel Corporation of India Limited

J. Sagar Associates (“JSA”) advised ICICI Securities Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited (together the “BRLMs”) in relation to the proposed initial public offering of RailTel Corporation of India Limited (“RailTel”). RailTel has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer of its equity shares through an offer for sale by the President of India, acting through the Ministry of Railways, Government of India. The Offer will comprise a net offer of up to 86,653,369 equity shares of RailTel.

RailTel is an information and communications technology infrastructure provider and are one of the largest neutral telecom infrastructure providers in India. It 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. As of June 30, 2020, RailTel had exclusive right of way along 67,415 route kms connecting 7,321 railway stations for laying optical fibre cable. It has over 55,000 route kms of optical fibre cable network and has connected 5,677 railway stations across towns and cities in India. It offers high capacity bandwidth of up to 800G at 60 locations in India along with leased line and VPN facilities and also provides IP-1 service which allows it to offer a unique proposition to telecom service providers in India.

JSA Team comprised Partner – Arka Mookerjee; Principal Associate – Pracheta Bhattacharya; Associates – Krupa Brahmbhatt, Ananth Balaji, Kinjal Shah and Sourav Modi.