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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.
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
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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.