- RailTel IPO will open on February 16 and stay open until February 18.
- This could be the seventh preliminary public choices this 12 months, and second by the Ministry of Railways after it just lately pared stake in Indian Railway Finance Company IPO.
- The corporate has set the worth band for the difficulty at ₹93-94 per share.
The ₹819 crore preliminary public providing (IPO) of state-run RailTel Corp of India will hit the capital markets subsequent week. The IPO will open on February 16 and stay open until February 18.
The federal government will promote a 27.16% stake within the firm. The provide includes a proposal on the market of as much as 87 million shares by its promoters, of which 5,00,000 shares will probably be reserved for eligible staff.
The value band for the difficulty has been set at ₹93-94 per share.
This could be the seventh preliminary public choices this 12 months, and second by the Ministry of Railways after it just lately pared stake in Indian Railway Finance Company IPO— which listed at a 4% low cost final month.
RailTel Corp of India opens subsequent week
|Opens on||February 16|
|Closes on||February 18|
|Value band||₹93-94 per share|
|Minimal bid||155 fairness shares|
|Reservation for certified institutional consumers||50%|
|Reservation for non-institutional consumers||15%|
|Reservation for retail traders||35%|
As soon as the IPO is concluded, the fairness shares will probably be listed on each the exchanges — BSE and NSE. ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets are the e-book working lead managers for its public providing IPO.
RailTel Corp of India IPO: All it’s essential to know
- RailTel is a Mini Ratna (Class-I) Central Public Sector Enterprise, wholly-owned by the Authorities of India and underneath the Ministry of Railways’ administrative management.
- It’s an data and communications know-how (ICT) infrastructure supplier agency and one of many largest impartial telecom infrastructure suppliers in India, in response to a CRISIL report.
- The corporate is engaged within the modernization of the present telecom system for practice management, operation and security and generates extra revenues by creating nationwide broadband and multimedia networks by laying optical fibre cables alongside railway tracks.
- The corporate operated information centres in Gurugram, Haryana and Secunderabad, Telangana to host and collocate vital purposes for patrons together with the Indian Railways.
- As of September 30, the corporate’s internet value was ₹1,394.63 crore, with no debt on its steadiness sheet.
- It’s value noting that RailTel is not going to obtain any proceeds from the provide on the market and the identical will go to the Authorities of India, the promoter of the corporate.
- The gray market premium suggests an upside of ₹32 for the worth band set at ₹93-94 per share.