RailTel Corporation’s Rs 820 crore initial public offer (IPO) was subscribed 42 times. The public issue subscribed 16.78 times in the retail category, 65.14 times in the qualified institutional buyer segment and 73.25 times in the non-institutional investor group. The public issue was open for three days between February 15 and February 18, and the shares were issued at a price of Rs 93-94 per share. The RailTel shares are set to be listed on the bourses on February 26.
The initial public offer was an offer for sale of 8,71,53,369 equity shares by the government, out of which 5 lakh equity shares were reserved for the employees.
The objective of the share sale is to divest government’s stake in RailTel Corporation as the government currently holds a 100 per cent stake in the company.
On Monday, RailTel had raised Rs 243.99 crore from 14 anchor investors, including Aurigin Master Fund and Utilico Emerging Markets Trust, Integrated Core Strategies Asia and Goldman Sachs India.
RailTel was incorporated in September 2000. It is an information and communications technology (ICT) infrastructure provider and one of the largest neutral telecom infrastructure providers in India, with more than 55,000 route kilometers of optical fiber cable network connecting 5,677 railway stations spread across the country.
Meanwhile, Nureca’s Rs 100 crore three-day initial public offering (IPO), which ended on Wednesday, was subscribed 40 times. The public issue was subscribed 166.58 times in the retail category, 3.10 times in qualified institutional buyers segment and 31.59 times in the non-institutional investors category.