RailTel Corporation of India to put its IPO on sale on February 16
By MYBRANDBOOK
RailTel Corporation of India is coming up with its public offer for subscription on February 16. The price for the public issue is fixed at Rs 93-94 per share, which is 9.30-9.40 times the face value of equity shares. The offer will be over by February 18.
In this initial public offer RailTel will sell 8,71,53,369 equity shares. Of which, 5 lakh equity shares may be reserved for the company's employees.
can bid for a minimum of 155 shares and after that in multiples of 155 equity shares.
A Mini Ratna which is owned by the central government, RailTel is an information and communications technology (ICT) infrastructure provider and is one of the largest neutral telecom infrastructure providers in India.
This would be the sixth initial public offerings this year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft and Brookfield India Real Estate Trust.
ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets are book running lead managers to the issue.
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