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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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.
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.
Nureca and RailTel to launch IPOs this week
The total size of the Nureca’s IPO has been kept at Rs 100 crore and the company has already raised Rs 44.55 crore from two anchor investors on February 12, 2021.
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The Wellness Wednesday Retreat curated a mix of brands across beauty, food, and lifestyle verticals; (below) Amanda Bhandari, lifestyle influencer By Express News Service
NEW DELHI: Keeping the IPO momentum alive, two more Indian companies will be going public this week. Healthcare and wellness products distributor Nureca will open its IPO on February 15 while state-owned information and communications technology infrastructure provider RailTel Corporation of India will open its IPO for subscription on February 16.