RailTel Corporation to list on bourses tomorrow, February 26, 2021

New Delhi: Telecom infrastructure provider  RailTel Corporation of India is all set to be list on the bourses on Friday (February 26). As per reports, the RailTel Corporation of India may be listed with a 10-25 percent premium.

The initial public offer of RailTel Corporation of India was subscribed 42.39 times on the final day of subscription on February 18. The Rs 819.24-crore offer received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer, as per data available with the NSE. The qualified institutional buyers (QIBs) category was subscribed 65.14 times, non institutional investors 73.25 times and retail individual investors (RIIs) 16.78 times.

The public issue was of 8,71,53,369 equity shares and had a price range of Rs 93-94 per share.

ICICI Securities, IDBI Capital Markets & Securities Limited and SBI Capital Markets were the managers to the offer. 

The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track. RailTel provides broadband telecom and multimedia network across the country.

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As on June 30, 2020, its optic fiber network covers over 55,000 kms and 5677 railway stations across towns and cities in the country.

With PTI Inputs