The portion of RailTel’s IPO reserved for non-institutional investors has received 73.25 times bids. Apart from this, retail investors have bid 16.79 times. At the same time, the portions reserved for employees have subscribed 3.36 times. The IPO does not include the portion raised from the anchor book. The company had already raised Rs 244 crore from anchor investors. The price band of the company’s stock is Rs 93-94: The government is selling its 27 per cent stake in the company. The government will get the full amount raised from this IPO. Nothing will come to the company’s account.
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Important things about IPO>> The price band of IPO has been fixed at Rs 93-94 per share.
>> 8,71,53,369 shares will be sold through the offer for sale under the IPO.
>> The government plans to raise Rs 819.24 crore through the offer.
>> The lot size of the offer is 155 equity shares.
>> At least Rs 14,570 was to be invested in this IPO.
>> Investors could bid for a maximum of 13 lot sizes.
Railtel IPO lot size
One lot of RailTel’s IPO is 155 shares. A retail investor could apply for at least 1 lot, while investors could bid for a maximum of 13 lots. In other words, at least Rs 14,570 was to be invested in this IPO. RailTel Corporation is a venture of Indian Railways. This information and communication technology provides the infrastructure. It is the largest neutral telecom infrastructure provider in India. The company was launched in September 2000. The company’s objective is to earn additional income by providing control operations, safety of trains and providing broadband and multimedia network facilities across the country. It works under the Ministry of Railways.
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September 2020 quarter profit
Talking about the economic condition of this railway company, the total assets of the company were close to Rs 2,482 crore in the quarter ended September 2020. Apart from this, the revenue of the company was close to Rs 554 crore. The company’s profit was about Rs 46 crore. This is the sixth IPO of the year 2021. Let me tell you that IPOs of IRFC, Indigo Paints, Home First Finance, Stove Craft and Brookfield India Real Estate Trust have come so far. At the same time, the IPO of Nureka Limited is set to come on February 15.