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RailTel IPO Subscription: RailTel IPO oversubscribed on first day of bidding: Key issues to know | India Enterprise Information – Occasions of India

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NEW DELHI: The preliminary public providing (IPO) of RailTel Company of India opened for subscription on Tuesday and the problem was oversubscribed on the primary day of bidding course of.
State-owned RailTel has fastened a worth band of Rs 93-94 a share for its preliminary share-sale. The three-day problem would shut on February 18.
The mini-ratna PSU (public sector unit) is without doubt one of the largest impartial telecom infrastructure suppliers within the nation proudly owning an optic fiber community on unique Proper of Means (RoW) alongside railway monitor.
The corporate offers broadband telecom and multimedia community throughout the nation.
As of 1 pm, the problem had obtained bids for 7,76,92,355 shares, which was 126.96 per cent of the whole problem dimension of 6,11,95,923 shares.
Listed below are key issues to know concerning the RailTel IPO:
* RailTel had on Monday raised Rs 243.99 crore from 14 anchor traders.
* International portfolio traders who participated within the anchor allotment included UK-based Aurigin Capital through its Aurigin Grasp Fund and Utilico Rising Markets Belief, Reliance Capital managed Cohesion MK Finest Concepts Sub-Belief, Singapore-based Built-in Core Methods Asia and Goldman Sachs India.
* Half of the problem is reserved for certified institutional patrons, 35 per cent for retail traders, 15 per cent for non-institutional bidders.
* KFin Applied sciences Non-public Restricted is the registrar of the RailTel IPO.
* ICICI Securities, IDBI Capital, SBI Capital Markets are service provider bankers to the problem.
* In December 2018, the cupboard had authorised IPO of RailTel Company by diluting as much as 25 per cent authorities stake.
(With inputs from businesses)

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