SAR Televentures to raise Rs 450 cr
To garner Rs200 cr from FPO and Rs250 cr via a rights issue
New Delhi: Telecommunication infrastructure provider SAR Televentures Ltd is looking to raise Rs450 crore through a combination of Further Public Offer (FPO) and a rights issue to fund the company’s expansion plans.
The Noida-based SAR Televentures, which made its debut on NSE’s Emerge platform in November 2023, is engaged in the business of installing and commissioning telecom towers in India. The composite public issue with a face value of Rs2 consists of a further public offer of Rs200 crore and a rights issue of Rs250 crore, according to the draft offer documents filed last week.
Proceeds from the issue, to the extent of Rs273 crore will be used for funding the setting up of Fiber to the Home (FTTH) network solutions for 3 lakh home passes; Rs42.50 crore for setting up of an additional 1,000 number of 4G/5G telecom towers; Rs30 crore for funding incremental working capital requirement of the company.
