RailTel IPO: State-owned RailTel Company of India on Thursday fastened a value band of Rs 93-94 per share for its preliminary share-sale — RailTel IPO, which is able to open for public subscription on February 16.
The preliminary public provides (IPO) is fully an offer-for-sale by way of which authorities will offload 87,153,369 fairness shares, amounting to a 27.16 % stake, the corporate mentioned in an announcement.
On the higher finish of the worth band, the federal government would increase just a little over Rs 819 crore. The three-day concern would shut on February 18 and the anchor buyers portion could be open for subscription on February 15.
The IPO lot dimension is 155 RailTel shares.
A retail investor can apply for at least 1 lot whereas most as much as 13 heaps.
This implies a retail investor can bid for the RailTel IPO with a minimal money circulation of Rs 14,570 and most funding within the RailTel IPO is capped at 2,015 shares or Rs 189,410.
the IPO dimension, OFS
The concern dimension is 87,153,369 fairness shares of Rs 10 face worth. This means the mixture quantity that the promoters of the corporate wish to generate are Rs 819.24 crore.
The IPO will likely be listed at each NSE and BSE.
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 Method (RoW) alongside railway observation.
The corporate offers broadband telecom and multimedia community throughout the nation. Half of the problem is reserved for certified institutional consumers, 35 percent for retail buyers, 15 percent for non-institutional bidders.
As of June 30, 2020, its optic fiber community covers over 55,000 kms and 5677 railway stations throughout cities and cities within the nation. ICICI Securities, IDBI Capital, SBI Capital Markets are service provider bankers to the problem.
In December 2018, the cupboard had permitted the IPO of RailTel Company by diluting as much as 25 percent authority’s stake.