Updated: February 22, 2021 3:59:10 pm
RailTel IPO allotment status: The initial public offering (IPO) of RailTel Corporation of India was met 42.39 times subscription over the 6.11 crore shares offered during the subscription period from February 16-18, 2021. The price band was fixed at Rs 93-94 per share.
The RailTel received bids of over 259.42 crore (2,59,42,43,370) shares against the total issue size of over 6.11 crore (6,11,95,923) shares, data available with the National Stock Exchange (NSE) showed.
The qualified institutional buyers (QIBs) category was subscribed 65.14 times, non institutional investors 73.25 times and retail individual investors (RIIs) 16.78 times.
The RailTel IPO is entirely an offer-for-sale (OFS) through which government will offload over 8.71 crore (8,71,53,369) equity shares, as per the information given in the red herring prospectus.
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The company is one of the largest neutral telecom infrastructure providers in the country, owning an optical fibre network on the right of way along the railway tracks.
Investors are now looking forward to the share allotment date of the RailTel IPO. The company will finalise the allotment of shares on Tuesday, February 23, 2021. In case you have applied for the RailTel IPO, then here is how you can check the status of your allotment when it gets declared:
- The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies (Click here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants will need to select “RailTel Corporation of India Limited” in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
- Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select “RailTel Corporation of India Limited” from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
The listing of shares of RailTel is likely to take place on February 26, 2021, on both the NSE and BSE. The issue size of the IPO was Rs 819.2 crore. Before heading into the IPO, the company raised Rs 243.99 crore from its anchor investors.
ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets were the managers to the offer.
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