RailTel Corporation of India is all set to launch its maiden Initial public offer (IPO) for subscription 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.
The offering will be of 87,153,369 equity shares which will be aggregating up to Rs 819.24 crores. However, out of the equity shares in the offer, 5 lakhs may be reserved for the company’s employees. Investors can bid for a minimum 155 equity shares and in multiples of 155 equity shares thereafter.
Date of RailTel IPO
IPO will be available from February 16 to February 18 for three days
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.
The registrar of the IPO is KFintech Private Limited. ICICI Securities, IDBI capital markets & securities, and SBI capital markets are the books running lead managers to the issue.
As of 30 June 2020, the company has covered an optic fiber network of over 55,000km and 5677 railway stations. The company has data centers in Haryana, Gurugram, Secunderabad, and Telangana.
