Updated Feb 16, 2021 | 12:48 IST
RailTel s IPO opened for subscription on Tuesday. The price band of the issue has been fixed Rs 93-94. It commanded 37% GMP over the upper band of issue price as of February 16 RailTel IPO opens for subscription: Brokerages weigh in on co s strengths, risks | Photo Credit: PTI
Telecom infrastructure corporation company RailTel Corporation of India’s Rs 819.24-crore initial public offer (IPO) opened for subscription on February 16. The Mini Ratna (category-I) company offers 8.71 crore equity shares of the public sector company via the offer for sale (OFS) route.
Government of India which holds 100% stake in the company aims to pare its holding to 72.8% in the information & communication technology (ICT) PSU and post-issue public holding will be 27.16%.
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The $112 million IPO of Indian Railways owned RailTel is now open for subscription Here’s why analysts think the IPO is attractive
The $112 million IPO of Indian Railways owned RailTel is now open for subscription Here’s why analysts think the IPO is attractive
Navdeep YadavFeb 16, 2021, 14:06 IST
The IPO of state-run RailTel Corp will remain open till February 18.
The shares were trading at a premium of ₹35-40 in the grey market, ahead of the IPO.
Nearly all the brokerages have given a ‘subscribe’ rating for the issue citing long term as well as listing gains.
Its net profit margin of 13% in FY 2020 was the highest among the Key Telecom Companies and Key IT/ICT companies in India.The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp of India is now open for public subscription. The IPO will remain open till February 18.