RailTel IPO GMP: Grey market top price plunges; take a look at portion designate and itemizing date

RailTel IPO GMP, RailTel Grey market premium, RailTel IPO allotment date, RailTel share listing date
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RailTel IPO GMP: Grey market top price plunges; take a look at portion designate and itemizing date 

The IPO of RailTel Corporation of India will discontinuance for retail subscriptions on Thursday, February 18. As per the NSE recordsdata, the IPO was once subscribed 6.64 times on the second day of subscription on Wednesday. The Rs 819.24-crore offer received bids for 40,64,63,940 shares against 6,11,95,923 shares on offer.

The public train is of 8,71,53,369 equity shares and in a designate range of Rs 93-94 per portion. Plenty will designate Rs 14,570 and comprise 155 shares.

The firm has raised Rs 244 crore from 14 anchor traders. The offer is being managed by ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd, and SBI Capital Markets Ltd.

As per NSE recordsdata, the licensed institutional patrons (QIBs) share was once subscribed 2.96 times, non-institutional traders 2.63 times and retail particular person traders(RIIs) 10.55 times.

RailTel Grey Market Premium

The IPO is seeing stable retail participation at bids. Merchants are expecting a factual itemizing positive factors. On the different hand, the highest price in the grey market for the shares of unlisted firm has plunged.

A portion of RailTel was once commanding a top price of Rs 12-14 on Thursday. Right here's a ways beneath the Rs 47 GMP it was once taking half in a number of days prior to now.

The grey market top price aloof suggests a minimal of 13-15 per cent reach at the time of itemizing.

RailTel IPO Half Date

In the intervening time, the RailTel IPO share could be accomplished on February 23 and shares could be credited to demat account on February 24. Listing of RailTel shares on NSE and BSE will purchase region on February 26.

RailTel is a telecom firm. It's miles a debt-free firm. The mini-ratna PSU affords broadband and VPN companies and products.

RailTel is with out doubt one of many biggest neutral telecom infrastructure services in the country owning an optic fiber community on arresting Appropriate of Design (RoW) alongside railway music. RailTel's optic fiber community covers over 55,000 kms and 5677 railway stations in the country.

RailTel was once integrated in 2000 to modernise the present telecom machine for put collectively administration, operation and safety and to generate additional revenues by constructing nationwide broadband and multimedia community, laying optical fiber cable utilizing the honest of blueprint alongside railway tracks.

READ MORE: RailTel IPO opens at this time: Verify designate band, grey market top price and additional

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