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).
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.
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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Synopsis
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.