- The state-owned RailTel’s preliminary public provide is a suggestion on the market of 8,71,53,369 fairness shares by the federal government, out of which 500,000 fairness shares can be reserved for the staff. The general public challenge will open for subscription on February 16 and can shut on February 18.
PUBLISHED ON FEB 15, 2021 03:36 PM IST
RailTel Company of India’s ₹819 crore preliminary public provide (IPO) will open for subscription from Tuesday until February 18. The supplier of broadband telecom and multimedia networks throughout the nation is a ‘Mini Ratna’ (Class-I) Central Public Sector Enterprise, wholly-owned by the federal government and beneath the executive management of the ministry of railways. The shares of the corporate are all set to be listed on the Nationwide Inventory Alternate and BSE on February 26.
Right here is all you have to find out about RailTel’s IPO:
1. The state-owned RailTel’s preliminary public provide is a suggestion on the market of 8,71,53,369 fairness shares by the federal government, out of which 500,000 fairness shares can be reserved for the staff.
2. The general public challenge will open for subscription on February 16 and can shut on February 18. The problem may also open for a day on February 15 for anchor traders.
3. Buyers can bid for no less than 155 fairness shares and in multiples of 155 thereafter as much as 13 heaps.
4. The quota for retail traders is fastened at 35 per cent, certified institutional patrons quota is 50 per cent and non-Institutional Buyers phase will account for 15 per cent
5. The corporate after consultations has fastened the value band at ₹93-94 a share. Within the increased worth band, the minimal utility measurement for retail traders involves ₹14,570.
6.The primary goal of the IPO is to hold out the disinvestment of 8,71,53,369 fairness shares held by the federal government. The federal government plans to boost Rs. 819 crore via the general public provide.
7. Because the IPO is completely an offer-for-sale the corporate is not going to obtain any fund from it. The proceeds from the share sale will go on to the federal government because it holds a 100 per cent stake within the firm
8. The share allocation will happen round February 23 adopted by unblocking of funds from the Functions Supported by Blocked Quantity (ASBA) account on February 24. Eligible traders will get shares on February 24 or 25.
9. RailTel considers having a sturdy senior administration crew with vital trade expertise, and a constant file of economic efficiency and development to be their energy.
10. For the monetary 12 months (FY) ending in March 2020, the corporate had reported a internet revenue of ₹141 crore as in comparison with ₹135 crore within the earlier FY.
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