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Home Business RailTel Corporation's Rs 820 Crore IPO To Open On Tuesday

RailTel Corporation’s Rs 820 Crore IPO To Open On Tuesday

RailTel Company IPO: Buyers can subscribe for a minimal one lot of 155 shares

RailTel Company’s Rs 820 crore preliminary public provide (IPO) can be open for subscription from February 16 to February 18, at a difficulty worth of Rs 93-94 per share. The shares of RailTel are set to be listed on the BSE and NSE on February 26.

The preliminary public provide is a proposal on the market of 8,71,53,369 fairness shares by the federal government, out of which 5 lakh fairness shares can be reserved for the workers. Buyers can bid for a minimal one lot of 155 fairness shares and in multiples thereafter, as much as 13 tons. The quota for retail buyers in RailTel IPO is mounted at 35 per cent, certified institutional patrons quota is 50 per cent and non-Institutional Buyers phase is 15 per cent.

Buyers can subscribe for a minimal one lot of 155 shares and in multiples, until a most 13 tons.

The target of the share sale is to divest authorities’s stake in RailTel Company. The proceeds from the share sale will go on to the federal government because it holds a 100 per cent stake within the firm.

Included in September 2000, RailTel is a mini ratna (Class-I) central public sector enterprise and one of many largest impartial telecom infrastructure suppliers in India. It has greater than 55,000 route kilometers of optical fiber cablenetwork and connects 5,677 railway stations throughout India.

ICICI Securities, IDBI Capital Markets & Securities, and SBI Capital Markets are the guide operating lead managers to the IPO.

RailTel Company’s IPO would be the sixth preliminary public providing this yr, after Indian Railway Finance Company, Indigo Paints, Residence First Finance Firm, Range Kraft Brookfield India Actual Property Belief and Nureca.

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