NEW DELHI: Mini Ratna RailTel Corporation of India, which is among the largest neutral telecom infrastructure providers in India, is hitting the market with an Rs 820-crore initial public offer (IPO) on Tuesday.
The last railway IPO that hit the Street of IRFC had a weak market debut. But grey market trends suggest investors are betting big on the forthcoming offering.
A wholly-owned government subsidiary under the administrative control of the Ministry of Railways, RailTel offers a diversified portfolio of services and solutions. As of Jan. 31, it had exclusive rights over 67,415 route kilometers, connecting 7,321 railway stations, for laying optical fiber cable. The company offers a high capacity bandwidth of up to 800G at 87 locations in India.
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NEW DELHI: Indigo Paints looks set to make a strong market debut on Tuesday, as sentiment turned euphoric in the secondary market after the presentation of Union Budget 2021-22 in Parliament.
The scrip was commanding a grey market premium of Rs 820 apiece following the Budget announcements, after plunging to Rs 700-720 levels a day ago, thanks to six days of relentless selling pressure in the secondary market correction that was eventually snapped by Monday s mega rally. The stock has rebounded smartly post Budget. The grey market premium now stands at Rs 820, said Abhay Doshi, a gujarat-based dealer of unlisted shares, who also tracks grey market premium.