RailTel Corporation IPO subscribed 42.39 times on last day

The initial public offer (IPO) of telecom infrastructure provider RailTel Corporation of India Limited 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 (QIBs) category was subscribed 65.14 times, non institutional investors 73.25 times and retail individual investors (RIIs) 16.78 times.

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 Limited and SBI Capital Markets were the managers to the offer. PTI