अब आप न्यूज्ड हिंदी में पढ़ सकते हैं। यहाँ क्लिक करें
cyfy
Home » business » RailTel IPO launches today, surges over 50% in grey market; Check pirce band

RailTel IPO launches today, surges over 50% in grey market; Check pirce band

The grey market premium (GMP) of RailTel was trading at Rs 141 in the grey market, at a premium of Rs 47-50% over the price band of Rs 94.

By Newsd
Published on :
RailTel IPO launches today, surges over 50% in grey market; Check pirce band

RailTel IPO grey market: RailTel Corporation of India will open for subscription on Tuesday. A venture of Indian Railways, RailTel Corporation derives 66 percent of its revenues from the telecom segment while the remaining portion is from railways and other projects.

Price rise in Grey Market:

The company, which is planning to raise Rs 819 crore via IPO route, has fixed the price band at Rs 93-94 per share.

The grey market premium (GMP) of RailTel was trading at Rs 141 in the grey market, at a premium of Rs 47-50% over the price band of Rs 94.

The Rs 819.24 crore issue of the state-owned RailTel Corporation of India is a complete offer for the sale of 8,71,53,369 equity shares by the Government of India.

The company caters to all the information and communication needs of the Railways. It has a large optical fiber network.

RailTel’s shares may be allotted on February 23 and will appear in the Demat account on February 24 and the shares may be listed on February 26.

RailTel also provides broadband telecom and multimedia networks across the country. As of June 30, 2020, its optic fiber network covering over 55,000 km and 5,677 railway stations across towns and cities in the country.

In FY20, the company had clocked a net profit of Rs 140 crore on revenues of Rs 1,128 crore.

The company has reported a short but stable financial performance over FY18-20. It reported a 7.5 percent CAGR rise in the topline. EBITDA margin expanded from 27 percent in FY18 to 29.6 percent in FY20. Adjusted PAT increased by 8.9 percent CAGR over FY18-20.

Related

Latests Posts


Editor's Choice


Trending