The RailTel Corporation of India IPO was opened for subscription today and on the first day of the bidding was it was subscribed 1.57 times. RailTel is a information and communications, technology, infrastructure provider company who has received bids for 9.6 crore equity shares against it’s offer size of 6.11 crore shares.
The company’s reserved portion has also been subscribed 3.03 times and it was 21% of the employees portion and the portion set for non-institutional investors was subscribed 31% while qualified institutional buyers have not started putting in their bids. RailTel IPO details are as followed :-
- Issue Opens : 16 February
- Issue Closes : 18 February
- Price Band : 93-94
- Lot Size : 155 shares
- Application Amount : 14,570
RailTel is said to have raised Rs. 224 crore from Anchor Investors and the offer size is mentioned excluding their investment.