The telecommunications Department in consultation with the finance Ministry plans to divide the initial public offering involving 25 percent stake in telecom engineering and consultancy firm TCIL(TeleCommunications Consultants India Ltd into segments.
According to the sources,10 percent initial public offering may mobilize Rs 600 crore required to fund TCIL’s expansion plans and for its subsidiary in the US.
DIPAM will also call for a meeting shortly on the appointment of a merchant banker for the proposed initial public offering.
The Telecommunications Department in consultation with the Finance Ministry plans to divide the initial public offering involving 25 percent stake in telecom engineering and consultancy firm TCIL(Telecommunications Consultants India Ltd into segments. This will include TCIL raising assets by issuing 10 percent new value shares and the government stripping 15 percent of its value in the company.
According to the sources,10 percent initial public offering may mobilize Rs 600 crore required to fund TCIL’s expansion plans and for its subsidiary in the US. The government share sale may get around Rs 1,000 crore.
According to the initial plan, the TCIL issue may come up around the July-September quarter. DIPAM will also call for a meeting shortly on the appointment of a merchant banker for the proposed initial public offering.
