The preliminary public supply (IPO) of RailTel Company of India will open for subscription at this time (February 16). RailTel is a telecom firm which offers broadband and VPN providers. It is without doubt one of the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Proper of Approach (RoW) alongside railway monitor. It’s a mini-ratna PSU.
RailTel has fastened a worth band of Rs 93-94 a share for its preliminary share-sale. The three-day challenge will shut on February 18. Quite a bit will value Rs 14,570 and comprise 155 shares.
The IPO allotment can be carried out on February 23 and shares can be credited to demat account on February 24. Itemizing of RailTel shares on NSE and BSE will happen on February 26.
The Rs 819 crore cr IPO is fully an offer-for-sale. The federal government will offload 87,153,369 fairness shares, amounting to 27.16 per cent stake. On the higher finish of the value band, the federal government will increase just a little over Rs 819 crore.
Based on the corporate’s assertion, half of the problem is reserved for certified institutional consumers, 35 per cent for retail traders, 15 per cent for non-institutional bidders.
RailTel’s optic fiber community covers over 55,000 kms and 5677 railway stations within the nation.
Earlier in December 2018, the federal government had permitted IPO of RailTel Company by diluting as much as 25 per cent stake.
RailTel was integrated in 2000 to modernise the prevailing telecom system for practice management, operation and security and to generate further revenues by creating nationwide broadband and multimedia community, laying optical fiber cable utilizing the correct of method alongside railway tracks.