RailTel Corporation's Rs 820 crore initial public offer (IPO) opens for subscription today i.e. February 16. The public issue will remain open for three days until February 18. The shares of RailTel are likely to be listed on the BSE and NSE exchanges on February 26.
The initial public offer is an offer for sale of 8,71,53,369 equity shares by the government, out of which 5 lakh equity shares will be reserved for the employees. Investors can bid for a minimum one lot of 155 equity shares and in multiples thereafter, up to 13 lots. The shares will be issued at a price of Rs 93-94 per share.
Investors can subscribe for a minimum one lot of 155 shares and in multiples thereof, till up to 13 lots.
RailTel was incorporated in September 2000. It is among the largest neutral telecom infrastructure providers in India, with more than 55,000 route kilometers of optical fiber cablenetwork connecting 5,677 railway stations.
Meanwhile, Nureca's Rs 100 crore three-day initial public offering (IPO), which opened for subscription on February 15, was oversubscribed on the first day of the issue. Nureca IPO saw 60,97,840 bids for its shares at the cut-off price, according to details on the NSE.