RailTel makes a decent debut shares list on bourses at 16% premium
Navdeep YadavFeb 26, 2021, 10:12 IST
BCCL
The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.
Within minutes after listing, the shares of RailTel gained 7% of their value and were trading at ₹111.7 apiece at 10:05 am in an otherwise tepid market.
The listing is also in line with analysts expectations which predicted listing gains above 15%.
Check out the latest news and updates on Business Insider.The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp made a decent debut after a tremendous investor response. The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.
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
1 min read
IRCTC shares were also trading higher
Share Via
Read Full Story
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.
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.