RailTel IPO subscribed 6.64 times on second day

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.

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. Bloomberg