RailTel Corporation raises Rs 244 crore from 14 anchor investors
SECTIONS
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.
NEW DELHI: After a brief pause, the domestic primary market is back in action with a couple of issues lined up for the coming week. Investors are keenly waiting for the new debutants, and the grey market too has joined the party.
The premium on the unlisted shares of RailTel has surged to Rs 44-47 in the grey market, the unofficial market for trading in unlisted shares. This translates into a 50 per cent bump up on the IPO price of Rs 93-94 per share.
The Rs 819-crore initial public offering opens on Tuesday, February 16, through which the government will sell a 27.16 per cent stake. The bidding process closes on Thursday, February 18.
Railway apprentices: RailTel Corporation announces apprenticeship.
New Delhi:
RailTel Corporation of India Ltd, a public sector company, has invited applications for apprenticeship training. A total of 68 candidates will be engaged for training in Electronics and Telecommunication, Computer Science, Civil engineering, electrical and electronic engineering disciplines. Graduate and diploma engineers are eligible for the post.
The duration of the training will be one year.
Graduate apprentices will receive Rs 14000 per month stipend and diploma apprentices will receive Rs 12000 per month stipend, the RailTel Corporation has said.
Candidates who have already completed their apprenticeship or terminated their apprenticeship mid-way or pursuing their apprenticeship with other organisations are not eligible, it has also said.