RailTel IPO was open for subscription between February 16 and 18. The allotment will be finalised around February 23. The price band for the IPO was Rs 93-94 and the minimum lot was 155 shares.
Read more on Groww: RailTel IPO – RailTel Corporation of India Limited
The Railtel IPO was subscribed 42.39 times on day 3 of bidding. The issue received bids for 259.4 crore shares against an offer size of 6.11 crore shares.
Read more on Groww: RailTel Ltd IPO Latest News and Subscription Status Today [ Live]
Check Allotment Status
Here’s how you can check the allotment status next week:
There are three primary ways to check the status:
Check Allotment Status on Groww
Once the allotment status is finalised, you can check your status on Groww, if you had applied for this IPO on our platform. Here are the steps:-
Step 1: Open the Groww App, scroll down the homepage to see the ‘IPOs’ section.
Step 2: Click on IPOs. On the next page click on the ‘Status’ tab next to RailTel IPO (or any other IPO you had applied for). The status tab will not be visible if you have not applied for the IPO.
Step 3: If you have received the allotment in the IPO, ‘Allotted’ will be written next to your application number. Or else, the status will show as ‘Rejected’. It will show as ‘Approved’ till the allotment is finalised.
The registrar for the IPO is KFintech Private Limited and the shares are proposed to be listed on the BSE and NSE.
After you land on the website’s IPO status page, you will see a drop-down menu that says ‘Select One’.
- From the drop-down menu, select ‘RailTel’.
- For identification, you can give your PAN number, application number DP/client ID, account number/IFSC code.
Check Allotment Status on BSE/NSE
You can also check the allotment status on the Bombay Stock Exchange’s
After you click on the link, you will have to feed in your application number and PAN number to check your allotment status.
You can also check on NSE by doing a one-time registration.
FAQs on RailTel IPO Allotment
1. How do I know if I have received RailTel Allotment or not?
We have discussed the steps for the same above.
2. What happens to the IPO amount in my bank account?
After applying for an IPO, the required amount is blocked for use from your account. Hence the money is still showing in your balance but is blocked for use.
3. Can we know the RailTel listing price?
Knowing the price at which the shares will list is almost impossible. The companies do have an issue price. But the listing price depends on the grey market transactions. Say the issue price was around Rs 200, and it was trading at a grey market premium of Rs 20 then we can expect the shares to list at around Rs 220. However, nothing can be said with certainty.
4. What is the grey market?
Grey market for an IPO is an unofficial market where the transactions that take place are ‘over-the-counter’ (OTC) in nature. They are mostly are dealt with in cash. Because of its unofficial and OTC nature, there are no rules around it. The transactions are done among a smaller group of people. So the RailTel listing price will depend on the grey market premium. The listing premium/discount is higher/lower than the issue price.
5. How are the RailTel shares being allotted?
If RailTel IPO is oversubscribed, the shares will be distributed proportionately among investors so that each investor gets a minimum of one lot. This is done on a lottery basis, so there cannot be a guarantee that you will get the shares. It is possible that few investors do not get any shares at all, in case of over-subscription.
6. Why did I not get RailTel allotment?
There are multiple reasons why an investor may not get the allotment:
- Pure Luck: As mentioned earlier, shares are allotted on a lottery basis. In case of oversubscription, not everyone will be assigned shares.
- Information mismatch: If your RailTel IPO application has any incomplete information or there is a mismatch in your credentials
- If your bid price is not within the price band
7. Will my money come back if I don’t get RailTel IPO allotment?
If you don’t get the allotment in RailTel IPO, the amount will be unblocked, and you will be able to use the amount in your bank account.
8. When will RailTel IPO get listed?
RailTel shares will get listed on BSE and NSE on February 26, 2021 tentatively.
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