RailTel Corporation Lists At Modest 11% Premium

RailTel Company of India shares listed at a modest premium on the bourses regardless of a selloff within the broader market this morning. The shares of RailTel Company debuted at Rs 104.60, up 11.28 per cent, on the BSE in comparison with the problem worth of Rs 94. And on the NSE, the shares have been listed at Rs 109, a premium of 15.96 per cent. At 10:45 am, the shares of RailTel have been buying and selling at Rs 120.60, up 28.40 per cent on the BSE and at Rs 120.75, up 28.46 per cent , on the NSE.

RailTel Company’s Rs 819 crore preliminary public supply (IPO) was a proposal on the market by the federal government as a part of the divestment programme. The IPO was subscribed 42 occasions. The share providing was subscribed 16.78 occasions within the retail class, 65.14 occasions in certified institutional purchaser phase and 73.25 occasions within the non-institutional investor group. The general public subject was open for 3 days between February 15 and February 18.

RailTel Company, included in September 2,000, is among the many largest impartial telecom infrastructure suppliers in India. It supplies telecom community companies, nationwide lengthy distance companies and telecom infrastructure companies throughout greater than 55,000 route kilometers of optical fiber cable community and connecting 5,677 railway stations throughout the nation.