3i Infotech consortium wins Wi-Fi Monetisation Project from RailTel

A consortium of three Indian partners namely 3i Infotech Limited ("the Company"), Forensics Intelligence Surveillance and Security Technologies Private Limited (FISST) and Yellow Inc, have been awarded Wi-Fi Monetisation Project ("the WiFi Monetisation Project") by RailTel Corporation of India Limited, with the Company being the lead bidder.

The WiFi Monetisation Project will monetize one of the biggest captive free Public WiFi network in the world, covering 6102+ railways stations across India with per day current user base of 1.1 million. The objective of said project is to create media platform having measurable and physical footprint across every corner of the country, reaching out to next 200 million digital consumers.

The WiFi Monetisation Project is a strategic fit towards expanding our Edge Computing capabilities by building "Edge application, Edge analytics, Edge security". Edge Application is the Super App which will be developed by the Company for the WiFi Monetisation Project. This would enable us to expand our business in the Telecom/ Media/ Entertainment vertical as the Company forays into Media technology.

Minimum revenue potential from the WiFi Monetisation Project is estimated to be Rs. 250 Crore, spread across five years. Following three revenue streams are proposed under the Wi-Fi Monetization Project:

1. Captive WIFI

Active eco-system, to be upgraded for un-locking the advertising revenue.

2. Railways' Super App

Be connected with the user beyond the railway station. Provided beyond FREE Internet Service. Revenue will be largely led by advertising and supported by content/ servicesbased revenue.

3. 2WayRelay - Content Delivery

It would be a separate product within the App, as it would be available at selected stations and serviceable to users who are in waiting room / retiring room of the station. Revenue stream would be between 'Paid Content and Advertising'.

For pursuing the WiFi Monetisation Project, the Board of Directors of the Company, at its meeting held on December 16, 2022, has approved formation of subsidiary company.

Shares of 3i Infotech Limited was last trading in BSE at Rs. 42.55 as compared to the previous close of Rs. 43.05. The total number of shares traded during the day was 82873 in over 1347 trades.

The stock hit an intraday high of Rs. 43.80 and intraday low of 42.30. The net turnover during the day was Rs. 3551528.00.

Shares of Railtel Corporation Of India Limited was last trading in BSE at Rs. 135.40 as compared to the previous close of Rs. 130.60. The total number of shares traded during the day was 357543 in over 5239 trades.

The stock hit an intraday high of Rs. 137.60 and intraday low of 130.60. The net turnover during the day was Rs. 48289215.00.

Source : Equity Bulls

Keywords

3iInfotech INE748C01038 Consortium OrderWin RailtelCorporationOfIndia INE0DD101019 WiFiMonetisationProject