NEW DELHI: The Rs 820-crore RailTel Corporation initial public offer (IPO) was subscribed 42.4 times on the final day of the bidding process. At 5:00 pm, the issue had received bids for 2,59,41,39,520 shares, which was 42.4 times the total issue size of 6,11,95,923 shares. Till Day 2, the issue was subscribed 6.55 times with the retail quota getting bids for 10.55 times the quota limit. While the qualified institutional buyer quota was subscribed 2.97 times, the non-institutional investor category bade for 2.63 times the quota limit. The employee reservation category was subscribed 1.85 times. The issue is an offer for sale for 87,153,369 equity shares in the price band of Rs 93-94. At the upper limit of this price band, the IPO is valued at 21.4 times PE on a FY20 trailing basis. Its enterprise value (EV) is four times the earnings before interest, tax, depreciation, and amortisation (Ebitda).