Commtel Networks Files Draft Papers With SEBI To Raise Rs 900 Crore Via Fresh Issue, OFS

Tech company Commtel Networks filed its draft red herring prospectus with the capital markets regulator Securities and Exchange Board of India on Thursday, Oct. 2, to raise Rs 900 crore via an initial public offering.

According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale of aggregating up to Rs 750 crore. The total offer size will aggregate up to Rs 900 crore.

Equirus Capital Private Limited and DAM Capital Advisors Limited are the book running lead managers to the offer. The promoter selling shareholders are Shriprakash R. Pandey (Founder, Promoter, and Managing Director of Commtel) who proposes to sell up to equity shares of face value of Rs 2 each aggregating up to Rs 344 crore. Satish Pookulangara (Non-Executive Director) and Ramakrishnan Saseendran Kodapully are the Other Selling Shareholders, each proposing to sell up to equity shares of face value of Rs 2 each aggregating up to Rs 203 crore.

Commtel Networks Ltd, specializes in designing, building, and implementing integrated telecommunication, security, and safety (iTSS) systems for critical national infra facilities, with a specific focus on oil and gas and power sectors.

The company designs and implements integrated technology platforms that function as the digital nervous system of CNI, enabling uninterrupted operations through secure connectivity and real-time data exchange.

As of March 31, 2025, the company has experience in integrating 44 distinctive technology systems in the iTSS systems framework, and has completed 600 projects across 19 countries, serving over 400 customers.

India's capital markets are bracing for a blockbuster October as a string of upcoming IPOs are set to light up the festive season.  With more than a dozen large issues lined up across the mainboard and SME segments, analysts claim this month could see fundraising cross Rs 1.5 lakh crore, making it one of the most significant periods in India’s primary market history.

The action began with Glottis Ltd., Om Freight Forwarders Ltd., and Fabtech Technologies Ltd., which opened for subscription on Sept. 29, followed by Advance Agrolife Ltd. on September 30. Further, Pace Digitek, TruAlt Bioenergy and Jinkushal Industries successfully concluded their IPOs this week. They will list on the exchanges soon.