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.