The RailTel Corporation of India Limited’s Initial Public Offer (IPO) which is involving Telecom Infrastructure accepted a total subscription of 42.39 times and the final result of this IPO will be declared on 23rd February 2021. The company’s IPO started the allotment for the subscription on 16th February 2021 and declared that the last date for filling the subscription will be 18th February 2021 and talking about the IPO size then the company set the price for the IPO is Rs 819.24 crore. The company suggested bids for 6,11,95,923 shares but the bids they get received for 2,59,42,43,370 shares and all the taa which is mentioned above is grabbed from the National Stock Exchange (NSE).
RailTel IPO Review
The statistics for the allotment is that the IPO which is received is 65.14 times which is the subscription in the Qualified Institutional Buyers (QIBs) category while in the non-institutional investor’s category the IPO is received is 73.25 times and the rest 16.78 times is decided for the retail individual investors (RIIs) category. As per the statement of Samco Scuiirtes Head of Equity Research named Nirali Shah, “the company fairly priced at its FY20 P/E of 21.3 times. “It has been commanding a good grey market premium indicating the offer will sail through but keeping the risks in mind, we recommend investors to subscribe for listing gains only”.
The amount and share which is for the public issue have amounted to 8,71,53,369 and the company sets a price of Rs 93-94 for each share and the ICICI Securities, IDBI Capital Markets & Securities Limited and SBI Capital Markets are the managers of this IPO. The RailTel Corporation of India, chairman and managing director named Puneet Chawla said that “The enthusiastic response from investors across all categories is very pleasing.” The Investors who invest in this IPO can check the allotment status through the KFin Technologies website which comes under the under of the ‘IPO Status’ section.
Then, the investors have to fill the desired column in which they have to fill the application number or DPID/Client ID or PAN, if the investors want to log in through the application number then they have to choose application type and then they have to enter the application number, for DPID/Client ID box the investors have to fill the DPIP, Client ID while for login through the PAN they have to enter the permanent account number. After that, a captcha has appeared and after filling it they have to click submit. Stay tuned with us.
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