Commtel Networks files DRHP for ₹900 crore IPO

Mumbai, September 30, 2025 – Commtel Networks Limited has filed its DRHP (Draft Red Herring Prospectus) for an initial public offering aggregating up to ₹9,000 million. The issue consists of a fresh issue of up to ₹1,500 million and an offer for sale of up to ₹7,500 million by existing shareholders. Shares of face value ₹2 each will be listed on BSE and NSE. The designated stock exchange will be confirmed in the final RHP.

Commtel Networks IPO Offer Structure

Commtel Networks Limited filed to make a debut in an initial public offering (IPO) of a combined size of ₹9,000 million. The IPO comprises a fresh issue of ₹1,500 million as part of business expansion and working capital needs, along with an offer for sale (OFS) of ₹7,500 million by existing investors.

Selling shareholders: Shriprakash R. Pandey (₹3,440 mn), Satish Pookulangara (₹2,030 mn), Ramakrishnan Saseendran Kodapully (₹2,030 mn). A pre-IPO placement of up to ₹300 million may be undertaken; if so, the fresh issue size will be reduced.

Commtel Networks IPO Use of Proceeds

• ₹1,090 million for repayment/prepayment of certain borrowings.
• Balance for general corporate purposes.

Commtel Networks IPO Book Running Lead Managers and Registrar

• BRLMs: Equirus Capital Pvt Ltd, DAM Capital Advisors Ltd
• Registrar: MUFG Intime India Pvt Ltd (fmr-Link Intime India Pvt Ltd)

Commtel Networks IPO Financial Snapshot (Restated Consolidated)

Commtel Networks Limited has experienced a marked increase in its finances over the last three years. Revenue from the company’s operations increased from ₹4,122.69 million in FY23 to ₹6,392.51 million in FY25, indicating a healthy trend of expansion.

In terms of profitability, profit before tax (PBT) stood at ₹1,254.12 million in FY25 compared to just over double that of FY24. Profit after tax (PAT) climbed to a healthy ₹1,135.60 million in FY25 from ₹474.98 million in FY24.

Revenue mix (FY25): India ₹2,893.08 mn, Overseas ₹3,499.43 mn.

Business mix (FY25): Turnkey projects & products ₹6,047.95 mn, Engineering & maintenance ₹344.56 mn.

Company Background

Established in 1998, Commtel is a designer and integrator of mission-critical communication, telecom, security, and safety networks for sectors such as oil & gas, power, and transport. Promoters are Shriprakash R. Pandey and Dinesh Pandey.

REF: https://nsearchives.nseindia.com/corporate/Registration_30092025021807_CommtelNetworksLimitedDRHP.pdf

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