RailTel IPO Allotment Status Check: The initial public offer (IPO) of state-owned RailTel Corporation of India Limited received tremendous response from investors. It was subscribed 42.39 times. According to data available with the NSE, the Rs 819.24-crore offer received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer.
The portion of the IPO reserved for retail investors was subscribed 16.78 times, whereas the qualified institutional buyer was subscribed 65.29 times. The public issue was of 8,71,53,369 equity shares and had a price range of Rs 93-94 per share.
The basis of the allotment of the IPO will be announced on February 23. RailTel IPO was oversubscribed and the allotment process will be done through a lottery system. The registrar of the RailTel IPO will initiate the refund process on February 24.
The shares of RailTel will be credited to demat accounts on February 24 and the listing will take place on February 26. RailTel shares will be listed at BSE and NSE.
Here's how you can check RailTel IPO allotment status on BSE, NSE websites:
1. Go to the BSE website or NSE website.
2. On BSE, Select ‘Equity’ and then from the dropdown, select ‘RailTel’
3. Enter your application number and PAN and then click on SEARCH. The status of the allotment will be displayed to you.
RailTel Corporation is a mini-ratna PSU. It is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track. It provides broadband telecom and multimedia network across the country.
RailTel's optic fiber network covers over 55,000 kms and 5677 railway stations across towns and cities in the country.
RailTel Corporation India, the seventh initial public offering this year, is second by the Ministry of Railways. RailTel share is commanding a grey market premium (gmp) of Rs 25-30 before the listing. The Indian Railway Finance Corporation (IRFC), another state-run company, was listed at a 4 per cent discount in January.