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.
RailTel Corporation raises Rs 244 crore from 14 anchor investors
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Last Updated: Feb 16, 2021, 10:32 AM IST
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The company informed the bourses that it has allocated 2,59,57,446 shares at Rs. 94 per share on February 15, to the anchor investors.
Bidding for the RailTel IPO issue began from 10 am on Tuesday.
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NEW DELHI: RailTel Corporation of India Limited (RailTel), raised Rs 243.99 crore from 14 anchor investors a day prior to its issue opening for public bidding. The company informed the bourses that it has allocated 2,59,57,446 shares at Rs. 94 per share on February 15, to the anchor investors.
Foreign portfolio investors who participated were 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.
HDFC Securities see an upside of 30% in PNC Infratech stock
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The share price of PNC Infratech has gained 10% since the closing Wednesday as the asset management companies or mutual funds lapped up the shares.
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The share of PNC Infratech is at par with the price one year ago.
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HDFC Securities recommends buy rating to the PNC Infratech stock . It sees an upside of over 30% in the stock in a time frame of upto three months. Incorporated in the year 1999, PNC Infratech Limited is one of the front-ending infrastructure development, construction and management companies in the country. On Wednesday, shares of PNC Infratech Ltd lost 5.59% to close at ₹174.80 on BSE, over the previous close as CN Infrabuild Pvt Ltd sold 2.55 crore shares or 9.95% of equity of PNC Infratech worth over ₹447 crore through an open market transaction.
The News Scroll 06 January 2021
Last Updated at 8:15 pm | Source: PTI
CN Infrabuild sells shares worth over Rs 276 cr in PNC Infratech Outlook January 06, 2021 20:15 IST CN Infrabuild sells shares worth over Rs 276 cr in PNC Infratech outlookindia.com 1970-01-01T05:30:00+0530
New Delhi, Jan 6 (PTI) CN Infrabuild Pvt Ltd on Wednesday sold shares of PNC Infratech worth over Rs 276 crore through an open market transaction. On the BSE, the entity sold 1.57 crore shares of PNC Infratech at an average price of Rs 175 apiece. The total deal value stood at Rs 276.39 crore. The scrips were bought by several entities at same price through separate transactions.