RailTel Corp bags Rs 25-cr order from BSNL

RailTel Corporation of India has received an advance purchase order amounting to Rs 25.46 crore per annum from Bharat Sanchar Nigam (BSNL) for commissioning of the point-to-point links.

The advance purchase order issued for the said work will be valid for a period of one year and further extendable by two years, the company further said in a BSE filing made during market hours today (4 March 2021).

The scrip was currently down 1.18% at Rs 163.65 on the BSE.

RailTel Corporation of India, a public sector undertaking under the Ministry of Railways (MoR), Government of India, is an information and communications technology (ICT) infrastructure provider and is one of the largest neutral telecom infrastructure providers in the country.

RailTel Corp posted a net profit of Rs 45.58 crore and total sales of Rs 537.40 crore in six month ended September 2020.

Shares of RailTel Corporation were listed on the stock exchanges on 26 February 2021. The stock was listed at Rs 104.60, a premium of 11.28% to the initial public offer (IPO) price. It gained 16.06% to close at Rs 121.40 apeice.

The IPO of RailTel Corporation of India was subscribed 42.39 times. The issue opened for bidding on 16 February 2021 and closed on 18 February 2021. The price band for the IPO was set at Rs 93-94 per share. Capital Market