RailTel Corporation IPO Subscribed 42.39 Times On Last Day
A worker adjusts a large banner advertising, “Fast WI-FI, for everybody”, at Mumbai Central railway station in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

RailTel Corporation IPO Subscribed 42.39 Times On Last Day

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The initial public offer of telecom infrastructure provider RailTel Corporation of India Ltd. was subscribed 42.39 times on the final day of subscription on Thursday.

The Rs 819.24-crore offer received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer, as per data available with the NSE.

The qualified institutional buyers category was subscribed 65.14 times, non-institutional investors 73.25 times and retail individual investors 16.78 times.

Also read: RailTel IPO: Here’s All You Need To Know

The public issue was of 8,71,53,369 equity shares and had a price range of Rs 93-94 per share.

Puneet Chawla, chairman and managing director, RailTel Corporation of India said, "It is heartening to see the overwhelming response from investors across all categories."

ICICI Securities, IDBI Capital Markets & Securities Ltd. and SBI Capital Markets were the managers to the offer.

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