RailTel IPO: State-owned company RailTel Corporation of India is going to introduce its IPO on February 16. One can invest money in it till February 18. RailTel’s shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). RailTel provides internet service to Indian Railways and other companies.
Here’s everything to know on RailTel’s IPO:
Important dates: RailTel IPO will be open for investors from February 16 to February 18. Allotment of shares is expected by February 23, after which the listing of stocks in NSE and BSE may happen on February 26, News18 Hindi reported.
Price band of RailTel IPO: The price band of this IPO has been fixed at Rs 93-94 per share, which is 9.4 times more than its face value. The government plans to raise Rs 819.24 crore through the offer. The company will not get any amount from this offer, and the entire amount will go to the government.
RailTel IPO Pre-Review: Regarding the listing, market experts say that RailTel has a huge opportunity in the telecom hardware infrastructure sector and it is expected to fetch other people besides those the railway business. The quarterly numbers of RailTel Corporation of India are also promising, so it can expect good returns on the IPO opening date. The price of RailTel IPO listing will be around 130 to 140 rupees depending on the mood of the market. Choice Broking Executive Director Sumit Bagadia said that RailTel IPO listing would be on the positive side.
RailTel IPO Lot Size: It has a lot of 155 shares. A retail investor can apply for a minimum of 1 lot while investors can bid for a maximum of 13 lots. That is, you have to invest at least Rs 14,570 in this IPO.
The size of the IPO and OFS: RailTel will sell 8,71,53,369 crore shares in the IPO through Offer for Sale (OFS). The total issue size of RailTel IPO at the upper price band is Rs 819 crore 24 lakh crore. Five lakh shares are reserved for RailTel employees.
Fifty per cent of this IPO will be reserved for qualified institutional buyers, 35% for retail investors while the other 15% will be for non-institutional buyers.
About RailTel: RailTel Corporation of India is a venture of Indian Railways. It provides the infrastructure for information and communication technology. It is the largest neutral telecom infrastructure provider in India. The company’s objective is to earn additional income by providing control operations, safety of trains and providing broadband and multi-media network facilities across the country.
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