Recently listed, SAR Televentures Limited, a telecommunication infrastructure provider, engaged primarily in the business of installing and commissioning telecom towers has filed its Draft Offer Document to raise Rs 450 crore via a further public offer and a rights issue. The composite public issue with a face value of Rs 2 consists of a further public offer of Rs 200 crore and a rights issue of Rs 250 crore.
The proceeds from the issue, to the extent of Rs 273 crore will be used for funding Setting up of Fiber-to-the-Home (FTTH) network solutions for 3,00,000 Home Passes; Rs 42.50 crore for funding setting up of an additional 1000 number of 4G/5G telecom towers; Rs 30 crore for funding incremental working capital requirement of the Company; and General corporate purposes.
SAR Televenture Limited with an issue price was Rs 55 per share debuted on the NSE Emerge Platform through an Initial Public Offering, and became a public listed company on November 08, 2023. The scrip listed Rs 105 per share, a premium of 90.91% and concluded the day at Rs 110.25 per share, a premium of 100.45%.
The Company was set up with a focus on providing telecommunications solutions to telecom network operators. Its has rapidly expanded its footprint and as of January 31, 2024, the company installed a total of 413 towers on lease across various regions including West Bengal, Bihar, Uttar Pradesh, Chandigarh, Odisha, Jharkhand, Himachal Pradesh, Punjab, and Andaman & Nicobar Islands.
Last year, SAR Televentures entered into a share purchase agreement to acquire 100% of the equity share capital of SAR Televentures F.Z.E, located in the United Arab Emirates from Shoora Capital Limited. SAR Televentures F.Z.E is currently involved in the laying and installation of fibre cables and the trading of network equipment.
