SAR Televenture’s FPO Price Band Set at ₹200-210: Key Dates for Telecom Expansion Revealed

SAR Televenture Limited, a telecom infrastructure provider, announced on July 4 that it has set the price band for its follow-on public offer (FPO) at ₹200 to ₹210 per share. The subscription period will be from July 15 to July 22, with the record date for the rights issue set for July 9.

FPO and Rights Issue

The company plans to raise ₹450 crore through the FPO and a rights issue. The rights issue will contribute ₹300 crore, while the FPO will raise ₹150 crore. Each shareholder will receive one rights share for every share they own. The rights issue will include 1.5 crore fully paid-up equity shares priced at ₹200 each.

Expansion

SAR Televenture will use the funds to expand its operations. They aim to invest approximately ₹273 crore to set up a Fiber-to-the-Home (FTTH) network for 3,00,000 Home Passes. Additionally, ₹42.50 crore will go towards building 1,000 telecom towers that support 4G or 5G. The company will also allocate around ₹30 crore for working capital.

On July 3, SAR Televenture shares closed 1.39% higher at ₹269.25, with a record high of ₹278.80 during the trading session. The company was listed on the National Stock Exchange (NSE) on November 8, 2023, and as of July 4, 2024, its market valuation was ₹403.43 crore.