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RailTel Corporation of India is opening its IPO for subscription on February 16 and closes on February 18. It was open for anchor investors on February 15.

The IP price band is Rs 93-94 per share and the market lot is 155 shares. The company is aiming to raise around Rs 819.24 crores from the IPO, all of which will go to the Government of India. 

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Listing Day: February 26

RailTel Corporation of India listed at a 15.96% premium on February 26.

It listed at Rs 109 per share on the NSE.

On the BSE, RailTel listed at an 11.28% premium to Rs 104.6 per share.

The IPO was subscribed 42 times between February 16 and February 18.

Day 3: February 18

As of 5.20 p.m.

  • The Railtel IPO was subscribed 42.39 times so far on day 3 of bidding.
  • The issue received bids for 259.4 crore shares against an offer size of 6.11 crore shares.

Subscription Status:

  • Retail investors: 16.79 times
  • Employees: 3.36 times
  • Non-institutional investors: 73.25 times
  • Qualified Institutional Buyers: 65.14 times

As of 12.30 p.m.

  • The Railtel IPO was subscribed 10.92 times so far on day 3 of bidding.
  • The issue received bids for 66.82 crore shares against an offer size of 6.11 crore shares.

Subscription Status:

  • Retail investors: 13.32 times
  • Employees: 2.19 times
  • Non-institutional investors: 8.85 times
  • Qualified Institutional Buyers: 8.53 times

Day 2: February 17

As of 5.15 p.m.

  • The Railtel IPO was subscribed 6.65 times so far on day 2 of bidding.
  • The issue received bids for 40.64 crore shares against an offer size of 6.11 crore shares.

Subscription Status:

  • Retail investors: 10.54 times
  • Employees: 1.85 times
  • Non-institutional investors: 2.63 times
  • Qualified Institutional Buyers: 2.96 times

Day 1: February 16

As of 5.15 p.m.

  • The Railtel IPO was subscribed 2.63 times so far on day 1 of bidding.
  • The issue received bids for 16.13 crore shares against an offer size of 6.11 crore shares.

Subscription Status:

  • Retail investors: 4.99 times
  • Employees: 81%
  • Non-institutional investors: 75%
  • Qualified Institutional Buyers: yet to bid

As of 2.15 p.m.

  • The Railtel IPO was subscribed 1.57 times so far on day 1 of bidding.
  • The issue received bids for 9.6 crore shares against an offer size of 6.11 crore shares.

Subscription Status:

  • Retail investors: 3.03 times
  • Employees: 21%
  • Non-institutional investors: 31%
  • Qualified Institutional Buyers: yet to bid

As of 12.00 p.m.

  • The Railtel IPO was subscribed 65% so far on fay 1 of bidding.
  • The issue received bids for 3.95 crore shares against an offer size of 6.11 crore shares.

Subscription Status

  • Retail investors: Fully subscribed
  • Employees: 10%
  • Non-institutional investors: 45%
  • Qualified Institutional Buyers: yet to bid

Other details of the IPO

Anchor Investor Bid Details

The IPO was open for anchor investors on February 15. Here are the details of the anchor investors according to a report:

  • HDFC Life Insurance: 14.34% for Rs 34.99 crores
  • Nippon Life MF: 12.29% for Rs 29.99 crores
  • Other institutions: ICICI Prudential MF and HDFC MF across 4 schemes each
  • IIFL Mutual Fund through Focused Equity Fund
  • Tata Mutual Fund through Digital India Fund
  • Edelweiss Mutual Fund through 4 schemes
  • AIF: Edelweiss AIF through Crossover Opportunities Fund Series II

Around 5 foreign portfolio investors(FPI) participated in the IPOs anchor investors bidding round. 

Here are more details on the FPIs that subscribed to the IPO:

  • UK-based Aurigin Capital via its Aurigin Master Fund
  • Utilico Emerging Markets Trust (also U.K.-based)
  • Reliance Capital managed Cohesion MK Best Ideas Sub-Trust
  • Singapore-based Integrated Core Strategies Asia
  • Goldman Sachs India.

RailTel is an Information and Communications Technology (ICT) infrastructure, provider. It is a category-I Mini Ratna CPSE or central public sector enterprise. The company is run by the Ministry of Railways and wholly owned by the Government of India.

The company provides the following services:

  • Telecom Network Services
  • Telecom Infrastructure Services
  • Data Center and Managed Hosting Services
  • System Integration Services

Happy Investing!

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