RailTel IPO Open on 16 February: Next week you will get a chance to invest in another IPO. Now the state-owned company Rail Tel Corporation of India is going to launch its IPO on February 16. This IPO will open on 16 February and can be invested in it till 18 February. The company has fixed the price band of Rs 93-94 per share for this. The government aims to raise Rs 819 crore through this IPO. Let us know that on the next week, on February 15, Nureca Limited’s IPO is also opening.
Price band and lot size
The price band of this IPO has been fixed at Rs 93-94 per share, which is 9.4 times more than its face value. At the same time, the lot size of this IPO offer is 155 equity shares. Bids have to be made for at least 155 shares. That is, at least Rs 14,570 will have to be invested in the IPO. You can bid for a maximum of 13 lot sizes.
Offer for sale
Under this IPO, 8,71,53,369 shares will be sold through Offer for Sale. Out of which 5 lakh equity shares are reserved for the employees of the company. The company will not get any amount from this offer, the entire amount will go to the government. ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets are the book running lead managers to the issue.
About the company
Rail Tail Corporation of India is the information and communications technology (ICT) infra provider of the country. The company today is the leading telecom infrastructure provider of Deya. The company was started in the year 2000, it works under the Ministry of Railways. Its products and services include telecom network services, telecom infrastructure services, data center and hosting services and system integration services. The company’s objective is to earn additional income by providing control operations, safety of trains and providing broadband and multi-media network facilities across the country.
This year’s sixth IPO
This will be the 6th IPO of this year. So far this year, IPOs of IRFC, Indigo Paints, Home First Finance, Stove Craft and Brookfield India Real Estate Trust have arrived. On February 15, the IPO of Nureca Limited will come.