New Delhi: The Railtel Corporation of India Limited (RailTel) has bagged an order worth Rs 89.09 crore from Indian Air Force (IAF). "RailTel has received a work order amounting to Rs 89.09 crore (Inclusive of 18 percent GST) from Air Force Network (AFNET), an Indian Air Force (IAF) owned, operated and managed digital information grid" the company said in a regulatory filing to the bourse on Friday. This order is for providing a comprehensive annual maintenance contract for the AFNET equipment and associated Items for the period of two years.
Earlier on June 4, RailTel had received an order worth Rs 119.72 crore from the Bharat Coking Coal Limited (BCCL) for the implementation of MPLS-VPN services along with miscellaneous services at 340 locations of BCCL.
Air Force Network (AFNET) is an Indian Air Force (IAF) owned, operated and managed digital information grid. The AFNet replaces the Indian Air Force's (IAF) old communication network set-up using the troposcatter technology of the 1950s making it a true net-centric combat force. The IAF project is part of the overall mission to network all three services i.e. the Indian Army, the Indian Navy and the Indian Air Force.
RailTel is a Miniratna PSU under the Ministry of Railways. It is an ICT provider and one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fibre network on exclusive Right of Way (RoW) along Railway track. The OFC network covers all important towns & cities of the country and several rural areas.
On February 26, RailTel launched its initial public offering (IPO), which was subscribed by 42.39 times. The issue opened for bidding on February 16 and closed on February 18. The price band for the IPO was set at Rs 93-94 per share. Shares of RailTel were listed on the stock exchanges on February 26. On day one, the shares of the company on trading closure settled at Rs 121.40 per share on BSE and Rs 120.60 per share on NSE. The shares touched a high of Rs 125.50 with a premium of 33.51 percent on BSE and Rs 127.85 with a premium of 36.01 percent on NSE.