Govt looking to sell 25% stake in RailTel

The Indian government is considering selling up to a 25% stake in state-owned infrastructure provider RailTel via an initial public offering (IPO) and has invited bids from banks to manage the listing process, the Economic Times reports. RailTel operates a pan-India fibre network on exclusive Right of Way (RoW) along railway tracks, spanning 45,000 route kilometres and connecting over 4,500 towns and cities. No price range has been suggested for the listing, but the paper claims that RailTel’s paid up share capital currently stands at around INR32.1 billion (USD4.59 billion).