RailTel IPO GMP: Grey market premium plunges; test share worth and itemizing date
Image Source : RAILTEL WEBSITE RailTel IPO GMP: Grey market premium plunges; test share worth and itemizing date
The IPO of RailTel Corporation of India will shut for retail subscriptions on Thursday, February 18. As per the NSE information, the IPO was subscribed 6.64 instances on the second day of subscription on Wednesday. The Rs 819.24-crore provide obtained bids for 40,64,63,940 shares in opposition to 6,11,95,923 shares on provide.
The public concern is of 8,71,53,369 fairness shares and in a worth vary of Rs 93-94 per share. So much will value Rs 14,570 and comprise 155 shares.
The firm has raised Rs 244 crore from 14 anchor traders. The provide is being managed by ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd, and SBI Capital Markets Ltd.
As per NSE information, the certified institutional patrons (QIBs) portion was subscribed 2.96 instances, non-institutional traders 2.63 instances and retail particular person traders(RIIs) 10.55 instances.
RailTel Grey Market Premium
The IPO is seeing robust retail participation at bids. Investors expect an excellent itemizing good points. However, the premium within the gray marketplace for the shares of unlisted firm has plunged.
A share of RailTel was commanding a premium of Rs 12-14 on Thursday. This is way under the Rs 47 GMP it was having fun with just a few days in the past.
The gray market premium nonetheless suggests no less than 13-15 per cent achieve on the time of itemizing.
RailTel IPO Allotment Date
Meanwhile, the RailTel IPO allotment will likely be performed on February 23 and shares will likely be credited to demat account on February 24. Listing of RailTel shares on NSE and BSE will happen on February 26.
RailTel is a telecom firm. It is a debt-free firm. The mini-ratna PSU offers broadband and VPN companies.
RailTel is among the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Right of Way (RoW) alongside railway monitor. RailTel’s optic fiber community covers over 55,000 kms and 5677 railway stations within the nation.
RailTel was integrated in 2000 to modernise the prevailing telecom system for prepare management, operation and security and to generate further revenues by creating nationwide broadband and multimedia community, laying optical fiber cable utilizing the proper of approach alongside railway tracks.
READ MORE: RailTel IPO opens immediately: Check worth band, gray market premium and extra
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