RailTel IPO Subscribed 6.64 Times On Second Day
A passenger walks past a train while using a smartphone at Mumbai Central railway station in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

RailTel IPO Subscribed 6.64 Times On Second Day

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The initial public offer of telecom infrastructure provider RailTel Corporation of India was subscribed 6.64 times on the second day of subscription on Wednesday.

The Rs 819.24-crore offer received bids for 40.64 crore shares against 6.11 crore shares on offer, as per NSE data.

The qualified institutional buyers portion was subscribed 2.96 times, non-institutional investors 2.63 times and retail individual investors 10.55 times.

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

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

The company has raised Rs 244 crore from 14 anchor investors.

The offer is being managed by ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd, and SBI Capital Markets Ltd.

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