The IPO of RailTel Corporation of India will shut for retail subscriptions on Thursday, February 18. As per the NSE knowledge, the IPO was subscribed 6.64 instances on the second day of subscription on Wednesday. The Rs 819.24-crore supply acquired bids for 40,64,63,940 shares towards 6,11,95,923 shares on supply.
The public situation is of 8,71,53,369 fairness shares and in a worth vary of Rs 93-94 per share. Quite a bit will price Rs 14,570 and comprise 155 shares.
The firm has raised Rs 244 crore from 14 anchor traders. The supply is being managed by ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd, and SBI Capital Markets Ltd.
As per NSE knowledge, the certified institutional consumers (QIBs) portion was subscribed 2.96 instances, non-institutional traders 2.63 instances and retail particular person traders(RIIs) 10.55 instances.
RailTel Grey Market Premium
The IPO is seeing sturdy retail participation at bids. Investors predict a very good itemizing good points. However, the premium within the grey market for the shares of unlisted firm has plunged.
A share of RailTel was commanding a premium of Rs 12-14 on Thursday. This is way beneath the Rs 47 GMP it was having fun with just a few days in the past.
The grey market premium nonetheless suggests not less than 13-15 per cent acquire on the time of itemizing.
RailTel IPO Allotment Date
Meanwhile, the RailTel IPO allotment will likely be carried out on February 23 and shares will likely be credited to demat account on February 24. Listing of RailTel shares on NSE and BSE will happen on February 26.
RailTel is a telecom firm. It is a debt-free firm. The mini-ratna PSU supplies broadband and VPN providers.
RailTel is without doubt one of the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Right of Way (RoW) alongside railway observe. RailTel’s optic fiber community covers over 55,000 kms and 5677 railway stations within the nation.
RailTel was included in 2000 to modernise the prevailing telecom system for prepare management, operation and security and to generate further revenues by creating nationwide broadband and multimedia community, laying optical fiber cable utilizing the correct of manner alongside railway tracks.
READ MORE: RailTel IPO opens in the present day: Check worth band, grey market premium and extra
Latest Business News