RailTel Corporation of India has launched its maiden Initial public offer (IPO) for a subscription today on February 16th, Tuesday. RailTel is State-owned information and communications technology infrastructure, provider. It was incorporated in the year 2000 and is wholly owned by the government of India and administered by the ministry of railways.
Date of RailTel IPO
IPO will be available from February 16 to February 18 for three days. RailTel’s shares may be allotted on February 23 and will appear in the Demat account on February 24. RailTel shares may be listed on February 26.
Price Band of RailTel
The price band for the public issue has been fixed at ₹93-94 per share, which is 9.30-9.40 times the face value of equity shares.
RailTel is currently trading at around Rs 141 in the gray market.
About RailTel
The offering is of 87,153,369 equity shares which will be aggregating up to Rs 819.24 crores. Investors can bid for a minimum of 155 equity shares and in multiples of 155 equity shares thereafter.
As of 30 June 2020, the company has covered an optic fiber network of over 55,000km. The company has data centers in Haryana, Gurugram, Secunderabad, and Telangana.
RailTel provides service at 5,677 railway stations. The company has helped launch an optic fiber-based connectivity project at the National Knowledge Network (NKN), Northeast.
