Rama Telecom's IPO Aims to Boost Telecom Solutions
Rama Telecom's IPO is open for subscription, offering shares at Rs 65-68 each. The company aims to raise approximately Rs 25.13 crore for capital expenditure and technology upgrades. Shares will list on NSE's SME platform Emerge. The funds will support project initiatives like FTTH and SCADA networks.
- Country:
- India
The initial public offering (IPO) of Rama Telecom, a telecom infrastructure and engineering solutions provider, has opened for subscription. Priced between Rs 65 and Rs 68 per equity share, the IPO will remain open until June 27, potentially raising Rs 25.13 crore at the higher end of the price band.
The company plans to list its shares on the NSE's SME platform Emerge, with investors required to bid for a minimum of 2,000 shares. Proceeds from the IPO, consisting entirely of fresh issues, will help with capital expenditure and general corporate purposes.
Managing Director Rama Kant Lakhotia stated that the capital raised will enhance project execution capabilities, upgrade equipment, and support technologies crucial for ongoing and future projects, including the Kavach system, FTTH deployments, and SCADA networks.
(With inputs from agencies.)
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