RailTel IPO: RailTel’s IPO Opens For Investment From Today
RailTel IPO: RailTel’s IPO opens for investment from today, know every detail before investing.
The IPO of the government-owned company RailTel Corporation is opening for subscription from today on February 16. One can invest in it till 18 February.
Anchor investors will be able to subscribe to the issue on February 15. The size of this IPO is Rs 819 crore.
The second month of this calendar year is going on and IPOs of companies like Indigo Paints, IRFC, HFFC, and Stove Craft have already been listed on the stock markets.
The company has fixed the price of each share for this IPO at Rs 93-94.
RailTel will hold 8,71,53,369 equity shares in its IPO. Out of this, 5 lakh equity shares are reserved for the employees of the company.
In this way, the government will reduce its stake to 27.16 percent. At the same time, 50 percent of this issue is reserved for qualified institutional buyers.
Know the possible date of allocation and listing of shares
ICICI Securities, IDBI Capital, SBI Capital Markets are the merchant bankers of this issue. Allotment of this IPO is expected to be completed by February 23, 2021, according to stockbrokers.
At the same time, its listing is expected to be on the stock market on 26 February 2021. It is known that RailTel was established on September 26, 2000.
It is a public sector mini Ratna company. It is the country’s largest provider of neutral telecom infrastructure. In December 2018, the Union Cabinet allowed RailTel Corporation’s IPO.
It was established with the goal of realizing additional revenue through the modernization of systems related to training control, operation and safety, and the development of nationwide broadband and multimedia networks.
This company has a large optical fiber network.
As of June 30, 2020, the company’s optical fiber network is 55,000 km long and spans 5,677 railway stations in various cities of the country. The company provides broadband telecom and multimedia networks across the country.
