Govt to divest 25% in RailTel, invites bids from merchant bankers to manage IPO

New Delhi: The government is looking to divest up to 25 per cent stake in RailTel Corporation, and is scouting for merchant bankers to manage the listing process. The government will appoint up to three merchant bankers to manage the listing process and has invited bids from them by June 11. The paid up share capital of the Railway PSU stands at Rs 320.93 crore and Profit After Tax for 2017-18 was Rs 156 crore. As on March 31, 2018, RailTel Net worth stood at Rs 1,249 crore. “The Government…