SAR Televenture to garner Rs 450 cr via rights issue, FPO

Telecommunication infrastructure provider SAR Televenture is looking to raise Rs 450 crore through rights issue and follow-on public offer (FPO). This comprises a rights issue of shares worth up to Rs 300 crore and a follow-on public offering (FPO) of up to Rs 150 crore, according to the draft papers.

The company proposes to utilise the proceeds to the tune of Rs 273 crore to set up fibre-to-the-home (FTTH) network solutions, Rs 42.5 crore for setting up an additional 1,000 4G/5G telecom towers, Rs 30 crore for incremental working capital requirements and the balance amount for general corporate purposes in FY 2025.