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RailTel sets price band of ₹ 93-₹ 94 per equity share for its Feb 16 IPO

RailTel Corporation Of India Limited owning a pan-India optic fiber network covering several towns & cities and rural areas of the country; will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the “Offer”/ “IPO”) on Tuesday, February 16, 2021 and close on Thursday, February 18, 2021. RailTel is a Mini Ratna (Category-I) Central Public Sector Enterprise, wholly-owned by the Government of India and under the administrative control of the Ministry of Railways. The price band of the Offer has been fixed at Rs. 93 to Rs. 94 per Equity Share of face value of Rs. 10 each. The Company and the Selling Shareholders may, in consultation with the book running lead managers (the “BRLMs”), consider participation by Anchor Investors, in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Monday, February 15, 2021.

The Offer will comprise up to 87,153,369 equity shares of face value of ₹10 each and the Offer will be a complete offer for sale by the Government of India. The Company will not be directly receiving any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholder. The objects of the Offer are to carry out the disinvestment of 87,153,369 Equity Shares held by the Selling Shareholder; and to achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The QIB portion of the net offer shall be not more than 50%; not less than 35% of the net offer shall be available for allocation to Retail Individual Bidders and not less than 15% of the net offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders.

ICICI Securities Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited are appointed as the BRLMs to the Offer.
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