Last updated on May 9th, 2021 at 01:36 pm
RailTel IPO Subscription Status
RailTel has raised Rs 244 crore from the anchor investors on 15th Feb 2021. Foreign portfolio investors who participated in the anchor allotment included UK-based Aurigin Capital via its Aurigin Master Fund and Utilico Emerging Markets Trust, Reliance Capital managed Cohesion MK Best Ideas Sub-Trust, Singapore-based Integrated Core Strategies Asia, and Goldman Sachs India. Domestic investors included HDFC Life Insurance, Nippon Life MF, ICICI prudential among others.
The issue is open today from 16th Feb 2021 to 18th Feb 2021. There is no fresh issue and the Government is divesting 27.16% of its stake. RailTel IPO Subscription Status
The issue is oversubscribed by 42.39x on 18th Feb 2021 . The GMP of the IPO has fallen to Rs 15 per share on 18th Feb 2021 from Rs 35 per share on 16th Feb 2021.
[su_table]
| RailTel Subscription Status {no. of times (x)} | ||||
| Particulars | Shares Offered | 16th Feb | 17th Feb | 18th Feb |
| QIB | 4,33,26,683 | 0.00 | 2.96 | 65.14 |
| NII | 1,29,98,006 | 0.75 | 2.63 | 73.25 |
| Retail | 3,03,28,680 | 4.99 | 10.54 | 16.79 |
| Employees | 5,00,000 | 0.81 | 1.85 | 3.36 |
| Total | 8,71,53,369 | 2.63 | 6.65 | 42.39 |
[/su_table]
Important Dates of RailTel IPO
[su_table]
| Important dates of RailTel IPO | |
| Basis of Allotment | Feb 23, 2021 |
| Initiation of refunds | Feb 24, 2021 |
| Credit to Demat Account | Feb 24, 2021 |
| IPO listing date | Feb 26, 2021 |
[/su_table]
Strengths
- Amongst the largest neutral telecom infrastructure providers in India with a pan-India optical fiber network.
- A diversified portfolio of services and solutions.
- Experience in executing projects of national importance with a robust pipeline of projects.
- Debt-free company and consistent dividend-paying company.
Challenges
- Dependent on and derive a substantial portion of revenues from PSU customers, the Indian Railways and other GoI entities as well as State Governments.
Recommendations of some of the brokerages:
Angel Broking- Subscribe
GEPL Capital- Subscribe
Choice Broking- Subscribe
Related Posts
- One MobiKwik Systems Limited, MobiKwik IPO - 14/10/2021
- Bharti Airtel Rights Issue- Should You Subscribe? - 07/10/2021
- How to Check your IPO Allotment status? - 28/09/2021
Disclaimer: The above content is for general info purpose only and does not constitute professional advice. The author/ website will not be liable for any inaccurate / incomplete information and any reliance you place on the content is strictly at your risk.
Follow us on Social Media by clicking below
Follow @financepost_in
Be the first to comment