Updated Feb 26, 2021 | 10:41 IST
The Rs 819 crore IPO of RailTel was open between February 16 and February 18. The government sold 27.16% stake in this issue. RailTel Corp shares list on bourses at a premium | Photo Credit: Twitter
New Delhi: RailTel made a stellar debut on bourses on Monday as RailTel shares listed at a premium. Shares were trading at Rs 106, up 13% from the issue price of Rs 94. The IPO of RailTel was subscribed over 42 times and it had a price range of Rs 93-94 per share.
At 10.01 am, shares of RailTel Corp traded 16% higher at Rs 108.90 apiece on the BSE. So far today, the stock has touched a high of Rs 109 apiece and a low of Rs 104.60. In comparison, Sensex was down 924 points or 1.81% at 50,14.90 while the NSE benchmark Nifty50 index was lower by 249 points or 1.66% at 14,847.45
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Nifty futures on the Singapore Exchange traded 281 points, or 1.85 per cent, lower at 14,899 in signs that Dalal Street was headed for a gap-down start on Friday. Here are a few stocks which may buzz the most in today s trade:
RailTel Corporation of India: RailTel will make its market debut on Friday. The initial public offer (IPO), which was sold from February 16 to February 18, saw qualified institutional buyers (QIBs) subscribing 65.14 times the quota limit. Non-institutional investors bade 73.25 times while retail individual investors (RIIs) bade 16.78 times the quota limit.
Mahindra Lifespace Developers: The realty firm said it has acquired 7.89 acres of land to develop a residential project in Bengaluru. The project will offer about 5 lakh sq ft of carpet area. The launch of the project is planned for FY 2022, the company said in a regulatory filing.
RailTel Corporation debuts at 16% premium over issue price of Rs 94 business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
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NEW DELHI: Railtel Corporation is all set to make market debut on Friday, and after Nureca got listed at a 59 per cent premium today, hopes are high that the state-run firm, too, will see a strong debut.
Grey market trends suggest the stock indeed may see decent listing gains, but that may not be enough for it to replicate Nureca s performance in debut trade.
Marketmen tracking grey market trends said Nureca s strong listing might not have any major impact on RailTel s debut, but the recent improvement in the secondary market sentiment would.
They said Nureca s was a small Rs 100 crore initial public offer (IPO) and had, thus, witnessed huge demand. In comparison, RailTel was a large Rs 819 crore issue. The railway firm has reported single-digit sales and profit growth for the past couple of years, while Nureca logged solid growth for the same period.