Rs 819-crore RailTel IPO opens tomorrow, February 16: Here is all you need to know

Rs 819-crore RailTel IPO opens tomorrow, February 16: Here is all you need to know

New Delhi: State-owned RailTel Company of India is all set to go for its preliminary public provide (IPO) on February 16. The mini-ratna PSU is among the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Proper of Means (RoW) alongside railway monitor. The corporate supplies broadband telecom and multimedia community throughout the nation.

As on June 30, 2020, its optic fiber community covers over 55,000 kms and 5677 railway stations throughout cities and cities within the nation.
Right here is all you need to know in regards to the RailTel IPO

RailTel has fastened a value band of Rs 93-94 a share for its preliminary share-sale, which can open for public subscription on February 16.

The IPO is solely an offer-for-sale by way of which authorities will offload 87,153,369 fairness shares.

This quantities to 27.16 per cent stake, Railtel mentioned.

On the higher finish of the worth band of the RAILTEL, the federal government would increase a bit of over Rs 819 crore.

The three-day concern would shut on February 18.

Tanchor buyers portion can be open for subscription on February 15.

Half of the problem is reserved for certified institutional consumers, 35 per cent for retail buyers, 15 per cent for non-institutional bidders.

ICICI Securities, IDBI Capital, SBI Capital Markets are service provider bankers to the problem.

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In December 2018, the cupboard had authorised IPO of RailTel Company by diluting as much as 25 per cent authorities stake.

With PTI Inputts

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