RailTel Corp shares list at a premium, up over 20%
RailTel is a central public sector enterprise under the administrative control of the Ministry of Railway.Premium
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IRCTC shares were also trading higher
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Shares of RailTel listed at a premium on exchanges today. At 10:27 am, shares were up 20% at ₹115 as compared to issue price of ₹94. The IPO of RailTel was subscribed over 42 times and it had a price range of ₹93-94 per share. The ₹819 crore IPO of RailTel was open between February 16 and February 18. The government sold 27.16% stake in this issue.
In comparison, BSE Sensex was down over ₹1.6%. Shares of another Railway related company IRCTC were trading 3% higher today.
Updated Feb 26, 2021 | 11:51 IST
Puneet Chawla, CMD, RailtTel Corporation India spoke to ET NOW and said that the response to the listing has been encouraging and he wants to thank investors. RailTel Corporation of India | Photo Credit: Twitter
State-owned telecom infrastructure provider RailTel Corporation of India made a strong debut on the bourses. The script listed at `109 on the NSE, a premium of 16% over the issue price of `94/share and at `104.60 on the BSE.
The company got bids 42 times more demand than the shares on offer. The offering for 61 mn shares got bids for 2.6 bn. The institutional investor portion of the IPO was subscribed 65 times and the high-net-worth individual (HNI) portion was subscribed 73 times.
Analysts say RailTel can make a strong stock market debut today
NEW DELHI: RailTel Corporation of India, which concluded its initial public offering (IPO) last week, made a stunning stock market debut on Friday, February 26, 2021. The shares of the company got listed at Rs 109 on NSE, a 15.96 per cent premium over its issue price of Rs 94. On BSE, the shares got listed at Rs 104.60, up 11.28 per cent.
RailTel s IPO opened on February 16 and closed on February 18. The IPO received great demand from all categories of investors and was subscribed more than 42 times.
The total size of the offer was of Rs 819.24 crore at the upper price band of Rs 94 per share.
RailTel share makes tepid market debut, lists at 16% premium to IPO issue price
RailTel share listed at Rs 109 per share against the IPO issue price of Rs 94 on NSE
BusinessToday.In | February 26, 2021 | Updated 10:36 IST
On BSE, the shared opened at Rs 104.60, implying a premium of 11.27% over the issue price. Market cap of the firm stood at Rs 3,583 crore on NSE.
RailTel Corporation share made a tepid debut market after its stock listed at a premium of 16% to the issue price today. The stock of state-owned telecom infrastructure provider listed at Rs 109 per share against the IPO issue price of Rs 94 on NSE.