RailTel IPO to originate on Feb 16: Here’s designate band, lot size and more

By: Particular Web Desk | Contemporary Delhi |

Updated: February 11, 2021 1: 35: 54 pm

Railtel, RailTel Corporation of India(Image source: Railtel India web jabber)

The Rs 819 crore preliminary public providing (IPO) of RailTel Corporation of India will originate on Tuesday, February 16, 2021, and can merely be available for subscription till Thursday, February 18, 2021. The price band of the IPO has been mounted at Rs 93-94 per part of the face designate of Rs 10 each and each.

RailTel is a executive-owned knowledge and communications abilities infrastructure provider and presents broadband telecom and multimedia community all the strategy thru the country.

The IPO is completely a proposal-for-sale thru which executive will offload over 8.71 crore (8,71,53,369) equity shares, as per the knowledge given within the crimson herring prospectus. The chief would possibly perchance perhaps lift up to Rs 819.2 crore at the easier end of the designate band.

RailTel has additionally reserved up to 5 lakh equity shares for its workers, crimson herring prospectus acknowledged.

Investors who admire to subscribe to RailTel’s IPO can exclaim within the lot of 155 equity shares and multiples thereof. At the easier designate band, they would possibly well favor to shell out Rs 14,570 to win a single lot of RailTel. The shares are proposed to be listed on both BSE and the National Stock Exchange (NSE).

Sooner than the overall public offer, the anchor merchants’ portion will most certainly be available on Monday, February 15, 2021.

ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets are the e book working lead managers to the RailTel IPO while KFin Applied sciences is the registrar of the roar.

The company is one among the ideal just telecom infrastructure providers within the country, proudly owning an optical fibre community on the merely of method along the railway tracks. It is a long way a Mini Ratna (Category-I) Central Public Sector Endeavor, wholly-owned by the Authorities of India and underneath the administrative administration of the Ministry of Railways.

As on June 30, 2020, its optical fibre community covers over 55,000 kms and 5,677 railway stations all the strategy thru cities and cities within the country.

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