The initial public offering (IPO) of the state-owned broadband and VPN service provider RailTel Corporation of India, which concluded last Thursday, saw its highest-ever retail participation among the six initial public offerings. The 819-crore RailTel IPO was subscribed 42.39 times, and will finalise the basis of the allotment of the IPO on Tuesday, February 23. Initiation of refunds would be done by Wednesday, while credit of equity shares to investors should occur by Thursday, February 25.
The public issue from the Railways received an overwhelming response – RailTel IPO received more retail bids than Rail India Technical and Economic Service (RITES) 14.74 and Indian Railway Catering and Tourism Corporation’s (IRCTC) 14.95 times from investors across all categories. RailTel’s IPO received a total of 23,79,717 applications, making it the second-best Railway IPO since Indian Railway Finance Corporation’s (IRFC) 25,51,325. Qualified Institutional Buyers (QIB’s) subscribed it 65.14 times, while non-institutional investors subscribed their reserved portion 73.25 times and the retail individual investors (RII’s) subscribed it 16.78 times. However, in the grey market, the Corporation’s shares were seen trading at Rs 14 premium over the issue price, commanding a 15 percent premium at Rs 108 per share.
The Indian Railways owned RailTel in all probability will make its market debut on Friday, February 26. The move comes after the cabinet approved the IPO of the RailTel Corporation of India by diluting its stake by close to 25 percent in 2018.
Once the basis of share allotment is done, investors can check their subscription status on RailTel Corporation of India Limited through the BSE’s website and the authorised registrar’s website – KFin Technologies Private Limited.
Investors can check the allotment status in RailTel Corporation of India through BSE website, when it gets declared.
Step 4: Under the ‘Issue Name’ drop down menu, select issue name as ‘RailTel Corporation of India’
Another way the investors can check their allotment status on KFin Technologies website, when it gets declared.
Step 4: In case of using an application number, please select the application type and then enter the application number
Step 5: In case of using a DPID or Client ID number – from the drop-down menu select depository, enter DPIP, Client ID
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Ref: https://www.news18.com
