RailTel Company of India to commence IPO on February 16, tag band fastened at Rs 93-94

For the RailTel IPO, merchants can stammer for a minimal 155 equity shares and in multiples of 155 equity shares thereafter.

February 11, 2021 / 08: 07 AM IST

Divulge-owned info and communications know-how infrastructure provider RailTel Company of India has decided to starting up its maiden public provide for subscription on February 16. Stories earlier indicated that it was presupposed to be launched in January.

The worth band for the public disaster has been fastened at Rs 93-94 per piece, which is 9.30-9.40 instances the face price of equity shares. The provide will shut on February 18.

The preliminary public provide is a total provide on the market of 8,71,53,369 equity shares by the authorities. Of which, 5 lakh equity shares would per chance very successfully be reserved for the corporate's workers.

The provide will give Rs 819.24 crore at elevated tag band to the authorities. Hence, the corporate is now not going to salvage any money from this provide.

Investors can stammer for a minimal 155 equity shares and in multiples of 155 equity shares thereafter.

RailTel, Mini Ratna (Category-I) central public sector endeavor, is an info and communications know-how (ICT) infrastructure provider and is with out a doubt one of many supreme unbiased telecom infrastructure suppliers in India.

It incorporated in September 2000, with the unbiased of modernising the present telecom machine for prepare win a watch on, operation and security and to generate extra revenues by constructing nationwide broadband and multimedia network by laying optical fiber cable by the employ of the particular of capacity along railway tracks.

The corporate operated records centers in Gurugram, Haryana and Secunderabad, Telangana to host and collocate serious applications

for purchasers in conjunction with the Indian Railways.

This stands out as the sixth preliminary public offerings this year, after Indian Railway Finance Company, Indigo Paints, Dwelling First Finance Firm, Range Kraft and Brookfield India Real Estate Trust.

ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets are e-book working lead managers to the disaster.

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