NEW DELHI: The Rs 820-crore RailTel Corporation initial public offer (IPO) was subscribed 42.4 times on the final day of the bidding process.
At 5:00 pm, the issue had received bids for 2,59,41,39,520 shares, which was 42.4 times the total issue size of 6,11,95,923 shares.
Till Day 2, the issue was subscribed 6.55 times with the retail quota getting bids for 10.55 times the quota limit. While the qualified institutional buyer quota was subscribed 2.97 times, the non-institutional investor category bade for 2.63 times the quota limit. The employee reservation category was subscribed 1.85 times.
The issue is an offer for sale for 87,153,369 equity shares in the price band of Rs 93-94. At the upper limit of this price band, the IPO is valued at 21.4 times PE on a FY20 trailing basis. Its enterprise value (EV) is four times the earnings before interest, tax, depreciation, and amortisation (Ebitda).
The IPO is entirely an offer-for-sale.
Government will offload 87,153,369 equity shares.
New Delhi: The initial public offer of telecom infrastructure provider RailTel Corporation of India was subscribed 2.64 times on the first day of subscription on Tuesday.
The Rs 819.24-crore offer received bids for 16,13,74,220 shares as against 6,11,95,923 shares on offer, as per an update on the NSE.
The category meant for non-institutional investors was subscribed 75 per cent and those for Retail Individual Investors (RIIs) got subscribed 4.99 times.
The public issue is of 8,71,53,369 equity shares and the price range is Rs 93-94 per share.
The company has raised Rs 244 crore from 14 anchor investors. It included participation from UK-based Aurigin Capital via its Aurigin Master Fund and Utilico Emerging Markets Trust, Reliance Capital-managed Cohesion MK Best Ideas Sub-Trust, Singapore-based Integrated Core Strategies Asia and Goldman Sachs India.
RailTel IPO: RailTel IPO subscribed nearly 4 times on Day 2 so far indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
NEW DELHI: The initial public offering (IPO) of RailTel Corporation of India opened for subscription on Tuesday and the issue was oversubscribed on the first day of bidding process.
State-owned RailTel has fixed a price band of Rs 93-94 a share for its initial share-sale. The three-day issue would close on February 18.
The mini-ratna PSU (public sector unit) is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track.
The company provides broadband telecom and multimedia network across the country.
As of 1 pm, the issue had received bids for 7,76,92,355 shares, which was 126.96 per cent of the total issue size of 6,11,95,923 shares.