RailTel IPO Share Allotment: Allotment of shares in 819 crore IPO of state-owned company RailTel is going to be finalized today. Shares will be allotted to those who put money in the IPO on 23 February. Whereas the shares will be allotted on February 24, will be transferred to their demat account. RailTel’s IPO received a great response from investors. The IPO had received about 43 times bids on the last day. The company’s IPO is expected to be listed in the market with a premium. If you have also invested in an IPO, then you would like to know whether the share was allotted to you or not. This can be easily ascertained from the website of BSE and the registrar.
Subscribed more than 42 times
RailTel’s IPO received a great response from investors. The IPO has received bids about 43 times. The issue size for the IPO was 6,11,95,923 shares, while 2,59,41,39,520 bids were received for it. Reserves for qualified institutional investors were subscribed 65.14 times, while for non-institutional investors, the reserve portion was subscribed 73.25 times. At the same time, the reserve share for retail investors was subscribed 16.78 times. In the gray market, RailTel’s stock is seen at a 14 to 15 percent premium.
Reduced premium in gray market
Although the premium of RailTel’s share has reduced in the gray market. Earlier it had reached a 50 percent premium, but later it declined. Right now it is showing at 17 to 18 percent premium from its issue price.
Option 1: From BSE website
For this, first you have to go to the BSE website.
After that the equity box has to be checked.
Then you have to enter the name of the issue in the dropdown.
After that you have to type your application number in the box.
After that you will have to provide information about your PAN number.
Finally, you have to click on the search button, after which the complete information will be revealed.
Option 2: On the registrar’s website
KFin Technologies is the registrar for this issue.
For this IPO, the registrar’s website will have to go to https://kcas.kfintech.com/ipostatus/.
Type the company name in the dropdown.
After this, enter PAN number, application number or depository / client ID in the box
Then enter the captcha and click on the search button.
93-94 share price
The company has fixed the price band for IPO at Rs 93-94 per share. This IPO was opened from 16 February to 18 February. The government aims to raise Rs 819 crore through an IPO. The lot size of the 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.
What does the company do
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 & 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.
RailTel’s total assets for the quarter ended September 30, 2020 were close to Rs 2482 crore, while revenue was around Rs 554 crore. At the same time, the company’s profit was about 46 crores. It has a 59,098 route kilometer optical fiber network that connects 5929 railway stations in the country by January 2021. RailTel’s shares will be listed on both BSE and NSE indices.