RailTel makes agency debut in inventory markets, lists at 16% premium over situation worth on NSE

4 years ago Report Wire

Shares of RailTel Corporation of India made a robust debut on the BSE and National Stock Exchange (NSE) at present itemizing at over 10 per cent above their situation worth.
The scrip received listed at Rs 109.00 apiece on the NSE, thereby registering an increase of 15.96 per cent from its provide worth of Rs 94. On the BSE, it debuted at Rs 104.60, up 11.28 per cent from the difficulty worth. The inventory nevertheless continued to rally and hit a excessive Rs 123.65 on NSE and Rs 123.70 on the BSE throughout its first hour of commerce on the primary day.
Over 7.57 crore shares of RailTel have been traded on the NSE through the first hour of commerce, whereas over 62.18 lakh shares exchanged fingers on the BSE, information from the respective inventory exchanges confirmed.

The Rs 819.2 crore IPO of RailTel met a sturdy demand throughout its provide interval from February 16-18. The situation was oversubscribed inside a number of hours on the primary day of opening and was ultimately subscribed 42.39 occasions on the ultimate day.
The certified institutional patrons (QIBs) class was subscribed 65.14 occasions, non institutional buyers 73.25 occasions and retail particular person buyers (RIIs) 16.78 occasions.
The firm is not going to obtain any proceeds from the provide and all proceeds shall go to the promoting shareholder (authorities).
Before the start of the IPO, it noticed Rs 243.99 crore come from 14 anchor buyers on February 15.

RailTel is among the largest impartial telecom infrastructure suppliers within the nation, proudly owning an optical fibre community on the fitting of method alongside the railway tracks. It is a Mini Ratna (Category-I) Central Public Sector Enterprise, wholly-owned by the Government of India and below the executive management of the Ministry of Railways.