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RailTel Corporation debuts at 16% premium over issue price of Rs 94

RailTel Corporation debuts at 16% premium over issue price of Rs 94
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RailTel IPO to open on February 16; price band fixed at Rs 93-94

State-owned RailTel Corporation of India, on Thursday, fixed the price band of Rs 93-94 a share for its initial share-sale, which will open for public subscription on February 16.
The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement.
At the upper end of the price band, the government would raise a little over Rs 819 crore.
The three-day issue would close on February 18 and the anchor investors portion would be open for subscription on February 15.
The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track.

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