The share allotment in RailTel IPO, which closed last week, is likely to be finalised by Tuesday, February 23. RailTel shares are proposed to be listed on BSE and NSE on February 26.
The initial public offering (IPO) of state-owned RailTel Corporation of India was subscribed 16.78 times on its third and last day of bidding, more retail bids than 14.74 times in RITES and 14.95 times from IRCTC's IPO.
The Rs 819-crore IPO of telecom infrastructure provider received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer.
However, the total subscription level for the issue stood at 42.42 times. This was far less than 111.95 times for IRCTC and 67.24 times for Rites.
The retail individual investor's segment was subscribed 16.78 times while qualified institutional buyers (QIBs) category 65.14 times and non-institutional investors 73.25 times.
Those who had bid for the issue can check the subscription status on the online portal of KFin Technologies, the registrar to the issue. Applicants can also check their allotment status on BSE website.
Here are five easy steps to check your allotment status for RailTel IPO
On KFin Technologies
- Go to the online portal
-Click on the drop-down menu and select the company name as RailTel in the drop-down menu of the investor's centre section.
- Enter your Permanent Account Numbers (PAN) or application number or Client ID.
- After entering the given captcha code, investors can click on submit button and view their allotment status.
Applicants can also check their IPO allotment status on the BSE website
-Select Equity and then from the dropdown, select issue name- RailTel
-Enter your Permanent Account Numbers (PAN) or application number and click Search
Through the application status, investors can see the number of shares subscribed during the IPO, and the shares allotted on the page.
RailTel Corporation of India's Rs 819.24-crore IPO - the seventh issue this year closed on February 18. The public issue was fully subscribed on the very first day of the bidding, on February 16.
State-owned RailTel Corporation of India IPO was a complete offer for sale of 8,71,53,369 equity shares by the Government. The Ministry of Railways sold 27% stake through the issue. Experts have indicated Rs 30-40 listing gains for short-term perspective in RailTel Corporation.
As per the company's DRHP, the company will not receive any proceeds from the offer and the net proceeds are to be used for carrying out the disinvestment plan and to achieve the benefits of equity share listing on the stock exchanges. The President of India, acting through the Ministry of Railways is the promoter of the company.
ICICI Securities, IDBI Capital, SBI Capital Markets are merchant bankers to the issue. Ahead of the IPO, RailTel had raised Rs 244 crore from 14 anchor investors.
Incorporated in September 2000, the Mini Ratna (Category-1) Railtel is an Information and Communication Technology (ICT) infrastructure provider company, that covers optic fibre network over 55,000 Km and 5677 railway stations as of 30 June 2020. The public sector business unit, wholly owned by the Government of India (GOI) and administrated by the Ministry of Railways, is one of the largest neutral telecom infrastructure providers in India with PAN India optic fibre network.
Reliance Securities, SMC Global, IIFL Wealth, TopShareBrokers.com, BP Wealth, Choice Equity Broking and Angel Broking has given positive outlook for the IPO, with Subscribe rating. On the other hand, Kotak Securities, ICICI Direct and Axis Capital assigned 'None' rating to the IPO. At the higher end of price band of Rs 94 per share, the IPO is valued at 21.4x EPS and 8.9x EBITDA for FY20.