RailTel IPO: State-owned RailTel Company of India on Thursday mounted a value band of Rs 93-94 per share for its preliminary share-sale — RailTel IPO, which is able to open for public subscription on February 16. The preliminary public provide (IPO) is solely an offer-for-sale by way of which authorities will offload 87,153,369 fairness shares, amounting to 27.16 per cent stake, the corporate stated in a press release.
On the higher finish of the worth band, the federal government would increase slightly over Rs 819 crore. The three-day subject would shut on February 18 and the anchor buyers portion could be open for subscription on February 15.
RailTel IPO Lot Measurement
- The RailTel IPO lot dimension is 155 RailTel shares.
- A retail investor can apply for no less than 1 lot whereas most as much as 13 tons.
- This implies, a retail investor can bid for the RailTel IPO with a minimal money circulation of Rs 14,570 and most funding within the RailTel IPO is capped at 2,zero15 shares or Rs 189,410.
RailTel IPO dimension, OFS
- The RailTel IPO subject dimension is 87,153,369 fairness shares of Rs 10 face worth. Means the combination quantity that the promoters of the corporate wish to generate is Rs 819.24 crore.
- RailTel IPO shall be listed at each NSE and BSE.
The mini-ratna PSU is likely one of the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Proper of Means (RoW) alongside railway monitor. The corporate offers broadband telecom and multimedia community throughout the nation. Half of the problem is reserved for certified institutional patrons, 35 per cent for retail buyers, 15 per cent for non-institutional bidders.
As on June 30, 2020, its optic fiber community covers over 55,000 kms and 5677 railway stations throughout cities and cities within the nation. ICICI Securities, IDBI Capital, SBI Capital Markets are service provider bankers to the problem.
In December 2018, the cupboard had authorized IPO of RailTel Company by diluting as much as 25 per cent authorities stake.
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