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RailTel makes a decent debut — shares list on bourses at 16% premium

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.

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RailTel IPO shares allocation today: How and where to check status

RailTel IPO shares allocation today: How and where to check status
The Rs 819-crore IPO of telecom infrastructure provider received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer
BusinessToday.In | February 24, 2021 | Updated 12:50 IST
RailTel shares are proposed to be listed on BSE and NSE on February 26
RailTel Corporation of India will finalise the allotment of its initial public offering (IPO) on Wednesday. The IPO of state-owned RailTel Corporation, which closed last week, was subscribed 42.42 times. The retail individual investor's segment was subscribed 16.78 times while qualified institutional buyers (QIBs) category 65.14 times and non-institutional investors 73.25 times. However, this was far less than 111.95 times for IRCTC and 67.24 times for Rites.

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RailTel IPO: RailTel IPO opens on Tuesday. Should you subscribe?

NEW DELHI: Mini Ratna RailTel Corporation of India, which is among the largest neutral telecom infrastructure providers in India, is hitting the market with an Rs 820-crore initial public offer (IPO) on Tuesday.
The last railway IPO that hit the Street -- of IRFC -- had a weak market debut. But grey market trends suggest investors are betting big on the forthcoming offering.
A wholly-owned government subsidiary under the administrative control of the Ministry of Railways, RailTel offers a diversified portfolio of services and solutions. As of Jan. 31, it had exclusive rights over 67,415 route kilometers, connecting 7,321 railway stations, for laying optical fiber cable. The company offers a high capacity bandwidth of up to 800G at 87 locations in India.

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