RailTel IPO to open on Feb 16: Here’s value band, lot measurement and extra
2 min read The Rs 819 crore preliminary public providing (IPO) of RailTel Corporation of India will open on Tuesday, February 16, 2021, and will probably be accessible for subscription until Thursday, February 18, 2021. The value band of the IPO has been fastened at Rs 93-94 per share of the face worth of Rs 10 every.
RailTel is a government-owned data and communications expertise infrastructure supplier and supplies broadband telecom and multimedia community throughout the nation.
The IPO is completely an offer-for-sale by which authorities will offload over 8.71 crore (8,71,53,369) fairness shares, as per the knowledge given within the purple herring prospectus. The authorities may elevate as much as Rs 819.2 crore on the higher finish of the value band.
RailTel has additionally reserved as much as 5 lakh fairness shares for its staff, purple herring prospectus mentioned.
Investors who want to subscribe to RailTel’s IPO can bid within the lot of 155 fairness shares and multiples thereof. At the higher value band, they must shell out Rs 14,570 to get a single lot of RailTel. The shares are proposed to be listed on each BSE and the National Stock Exchange (NSE).
Ahead of the general public provide, the anchor buyers’ portion will probably be accessible on Monday, February 15, 2021.
ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets are the guide working lead managers to the RailTel IPO whereas KFin Technologies is the registrar of the problem.
The firm is among the largest impartial telecom infrastructure suppliers within the nation, proudly owning an optical fibre community on the suitable of means alongside the railway tracks. It is a Mini Ratna (Category-I) Central Public Sector Enterprise, wholly-owned by the Government of India and below the executive management of the Ministry of Railways.
As on June 30, 2020, its optical fibre community covers over 55,000 kms and 5,677 railway stations throughout cities and cities within the nation.