Synopsis
The quota for retail investors in RailTel IPO is fixed at 35 per cent of the net offer.
Agencies
RailTel shares is likely to list on the stock exchanges by February 26.
NEW DELHI: RailTel Corporation, a PSU that provides internet services for the Indian rail system along with other things, is scheduled to launch its initial public offer (IPO) next week. The government will sell 27 per cent in the company to raise Rs 819 crore.
RailTel will not receive any proceeds from the offer and all such proceeds will go to the government, helping it with constrained finances.
Here is everything you need to know about RailTel IPO:
RailTel Corporation shares trade at 43% premium in grey market ahead of IPO
The issue, which comprises a full offer for sale of 8,71,53,369 equity shares by the Government of India, will fetch the government Rs 819.24 crore at higher price band. February 12, 2021 / 11:32 AM IST
RailTel Corporation of India, one of the largest neutral telecom infrastructure providers in India, traded at a 43 percent premium to the issue price in the grey market on February 11, ahead of public issue opening next week.
The public offer will open for subscription on February 16 and the same will close on February 18. The company has fixed issue price band at Rs 93-94 per share.
RailTel IPO to open on February 16, price band fixed at Rs 93-94
KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE
BusinessToday.In | February 11, 2021 | Updated 12:21 IST
The President of India, acting through the Ministry of Railways is the promoter of the company
Ministry of Railways-owned RailTel will launch its IPO on February 16 this year. The share sale, which will end on February 18, will be priced at Rs 93 to Rs 94 per equity share. The minimum market lot size for the IPO is 155 shares, where an individual investor can apply for up to 13 lots (2015 shares or Rs 189,410).
RailTel IPO: State-run firm opens public subscription on 16 Feb, sets price band at Rs 93-94 per share firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.