While many companies had delayed their IPO plans due to the pandemic, in the last few months, there has been a constant flow of IPOs being launched. Next to join the list is the public issue by RailTel Corporation of India Limited. The opening date of the IPO is February 16, 2021, and the closing date is February 18, 2021. Here is all you need to know about the issue.
You can apply for RailTel IPO on Groww easily via UPI. Go to IPO. There you would be able to see the list of all open IPOs. Select RailTel IPO and click on ‘Apply’. You would be able to invest in this IPO from February 16, 2021.
|IPO Date||February 16, 2021 to February 18, 2021|
|Issue Type||Book Built Issue IPO|
|Issue Size||87,153,369 Equity Shares of Rs.10 totaling up to Rs.819.24 Crore|
|Fresh Issue||87,153,369 Equity Shares of Rs.10 totaling up to Rs.819.24 Crore|
|Face Value||Rs.10 per equity share|
|IPO Price||Rs.93 to Rs.94 per equity share|
|Market Lot||155 shares|
|Min Order Quantity||155 shares|
|Listing At||BSE, NSE|
|Bid/Offer Launch date||February 16, 2021|
|Bid/Offer Last date||February 18, 2021|
|Basis of Allotment finalization date||February 23, 2021|
|Initiation of Refunds||February 24, 2021|
|Credit of Shares to Demat Acct||February 24, 2021|
|IPO Shares Listing Date||February 26, 2021|
RailTel Corporation of India Limited is an Information and Communications Technology (ICT) infrastructure provider with the largest neutral telecom infrastructure in India. It is a Mini Ratna (Category I) Central Public Sector Enterprise that is wholly owned by the Government of India and run by the Ministry of Railways.
The company was established with the objective of modernizing the existing system for train control, operation, and safety, and to generate additional revenues by creating nationwide broadband and multimedia network by laying optical fiber cable by using the right of way along the railway tracks.
RailTel Corporation offers a wide range of services across various industries including:
This includes power, storage, cooling, and physical security for networking equipment and servers of the company’s customers. It also connects them with various telecom network service providers.
RailTel also offers space on microwave towers for collocating base transceiver stations (BTS) for telecom operators, small cell sites for extending their mobile coverage, and space for collocating mobile switching centers. Lastly, it provides single-core dark fiber for transmission of digital video signals to multiple system operators for distributing cable.
Objects of the Offer
RailTel Corporation of India Limited proposes to utilize the net proceeds from the fresh issue to carry out the disinvestment of equity shares and achieve the benefits of equity share listing on stock exchanges.
The RailTel Corporation of India Limited IPO is a Main Board IPO for the issue of 87,153,369 equity shares having the face value of Rs.10 totaling up to Rs.819.24 crores. The registrar for the IPO is KFintech Private Limited and the shares are proposed to be listed on the BSE and NSE.
The RailTel Corporation of India Limited IPO opens on February 16, 2021, and closes on February 18, 2021.
The lot size for the RailTel IPO is 155 shares and the minimum order quantity is 155 shares.
For the RailTel IPO, the allotment date is Feb 23 and the listing date is Feb 26. .