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
SECTIONS
Last Updated: Feb 16, 2021, 10:32 AM IST
Share
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.
Related
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.
RailTel IPO subscribed 2.6 times on Day 1: 10 things to know
RailTel had an exclusive right of way along 67,415 route kilometers connecting 7,321 railway stations for laying optical fiber cablePremium
2 min read
The government will sell 87.15 million shares, or a 27.16% stake in this issue
Share Via
Read Full Story
The IPO of RailTel Corporation of India opened for subscription today to strong demand and the issue was oversubscribed in first few hours. The state-run company has fixed a price band of ₹93-94 a share for its initial share-sale. RailTel IPO will close on February 18. RailTel, which provides broadband telecom and multimedia network across the country, is one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track.
RailTel grey market premium rises to 50% ahead of IPO
As per the company s DRHP, the net proceeds from RailTel Corporation of India s Rs 819.24-crore initial public offer are to be used for carrying out the disinvestment plan and to achieve the benefits of equity share listing on the stock exchanges
BusinessToday.In | February 15, 2021 | Updated 13:10 IST
The President of India, acting through the Ministry of Railways is the promoter of the company. KFintech Private Limited is the registrar for the IPO
The public offer Mini-Ratna category company, RailTel Corporation of India opens for subscription on February 16. The issue, which closes on February 18, will have a price band of Rs 93-94 per share.
The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement. At the upper end of the price band, the government would raise a little over Rs 819 crore.