New Delhi: Allotment of shares of RailTel, state-owned telecom infrastructure provider is likely to be finalised today. The IPO of RailTel was available for subscription between 16th and 18th Feb. The value of IPO is Rs. 819 crore. The shares of RailTel are expected to be listed on BSE and NSE on 26th Feb. The IPO was subscribed 16.78 times on third and last day of its bidding.
RailTel received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer. Price range of RailTel IPO was ₹93-94 per share. Once the allotment is finalised, the shares will be credited to the demat accounts of eligible investors around February 24, as per the schedule mentioned in prospectus.
Here, they will need to select Equity in Issue Type, then select “RailTel Corporation of India Limited” from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
RailTel Corporation of India is a state-owned public enterprise and under the administrative control of the Ministry of Railway. It provides information and communications technology (ICT) infrastructure and is one of the largest neutral telecom infrastructure providers in India.
A neutral telecom infra provider is a third party who has little or no part in providing Internet service to the end-user but allows interconnection between multiple telecommunication carriers. RailTel also undertakes various ICT projects for the Indian Railways, central government and state governments.