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RailTel Corporation to list on bourses tomorrow, February 26, 2021

Highlights Rs 819.24-crore offer. It received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer. New Delhi: Telecom infrastructure provider  RailTel Corporation of India is all set to be list on the bourses on Friday (February 26). As per reports, the RailTel Corporation of India may be listed with a 10-25 percent premium. The initial public offer of RailTel Corporation of India was subscribed 42.39 times on the final day of subscription on February 18. The Rs 819.24-crore offer received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer, as per data available with the NSE. The qualified institutional buyers (QIBs) category was subscribed 65.14 times, non institutional investors 73.25 times and retail individual investors (RIIs) 16.78 times.

RailTel: Analysts expect shares to list at 16-18% premium over issue price

Shares of RailTel Corporation of India were commanding a premium of Rs 15-17 per unit in the unlisted market ahead of their debut on exchanges on Friday, February 26, implying listing gains of 16-18 per cent over the issue price of Rs 94 per share. But a correction in the secondary market has dented the listing pop by nearly 50 per cent for RailTel shares as they were trading at Rs 109-112 apiece in the unlisted market from Rs 122 earlier, said grey market watcher Manan Doshi, co-founder of Unlistedarena.com. Keshav Lahoti, equity research analyst at Angel Broking too shares the view and sees a small premium listing for RailTel of around 15 per cent.

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