The IPO of public sector company Railtel Corporation of India has opened for investment from February 16 today. The company has fixed the bid range for the IPO at Rs 93-94.
According to the company, through the initial public offering (IPO), the government is offering 87,153,369 equity shares, with a stake of 27.16 per cent. The government will raise around Rs 819 crore from the IPO at the upper end of the bid. The IPO was opened to anchor investors on 15 February. Through this IPO, the company provides broadband telecom and multimedia networks across the country.
– The IPO will open for anchor investors on 15 February.
– RailTel’s IPO will open for general bidding on February 16.
– Bidding range for IPO has been fixed at Rs 93-94.
Listing may take place on 26 February
ICICI Securities, IDBI Capital, SBI Capital Markets are the merchant bankers of this issue. According to brokers, the allotment of this IPO may be completed by 23 February 2021. At the same time, the listing of this IPO is likely to be on the stock market on February 26, 2021.