RailTel shares debut at 16% premium over issue price of Rs 94

RailTel Corporation made a debut at a 16% premium over the issue price of Rs 94. The shares were listed at Rs 109 per share on NSE. BSE listing price was at 104.60 per share.

The telecom infrastructure providers IPO of 61 million shares got bids for 2.6 billion, which is 42 times more than the shares on offer.

The proceeds of Rs 819 crores through the public issue will go to the government as it was a complete offer for sale and a part of the divestment programme for 2021.

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