RailTel IPO opens in the present day: Check worth band, gray market premium and extra
2 min read Image Source : RAILTEL LOGO (COMPANY WEBSITE) RailTel IPO subscription opens in the present day: Check worth band, gray market premium and extra
The preliminary public provide (IPO) of RailTel Corporation of India will open for subscription in the present day (February 16). RailTel is a telecom firm which supplies broadband and VPN providers. It is without doubt one of the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Right of Way (RoW) alongside railway observe. It is a mini-ratna PSU.
RailTel has mounted a worth band of Rs 93-94 a share for its preliminary share-sale. The three-day subject will shut on February 18. So much will value Rs 14,570 and comprise 155 shares.
The IPO allotment will likely be accomplished on February 23 and shares will likely be credited to demat account on February 24. Listing of RailTel shares on NSE and BSE will happen on February 26.
The Rs 819 crore cr IPO is fully an offer-for-sale. The authorities will offload 87,153,369 fairness shares, amounting to 27.16 per cent stake. At the higher finish of the value band, the federal government will elevate somewhat over Rs 819 crore.
According to the corporate’s assertion, half of the difficulty is reserved for certified institutional consumers, 35 per cent for retail buyers, 15 per cent for non-institutional bidders.
RailTel’s optic fiber community covers over 55,000 kms and 5677 railway stations within the nation.
Earlier in December 2018, the federal government had accepted IPO of RailTel Corporation by diluting as much as 25 per cent stake.
RailTel was integrated in 2000 to modernise the present telecom system for practice management, operation and security and to generate further revenues by creating nationwide broadband and multimedia community, laying optical fiber cable utilizing the suitable of means alongside railway tracks.
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