RailTel Corpn to hit capital market

State-owned RailTel Corporation of India — one of the largest neutral telecom infrastructure providers in the country — owning an optical fibre network on exclusive Right of Way (RoW) along the railway track is likely to hit the capital market with a Rs 700- crore IPO in the current fiscal.

Through the IPO, the government would dilute its stake in the corporation. As per draft filed by the corporation with SEBI, the government will offload 8.66 crore shares.