RailTel Corporation Lists At Modest 11% Premium

RailTel Corporation of India shares listed at a modest premium on the bourses despite a selloff in the broader market this morning. The shares of RailTel Corporation debuted at ₹ 104.60, up 11.28 per cent, on the BSE compared to the issue price of ₹ 94. And on the NSE, the shares were listed at ₹ 109, a premium of 15.96 per cent. At 10:45 am, the shares of RailTel were trading at Rs 120.60, up 28.40 per cent on the BSE and at ₹ 120.75, up 28.46 per cent , on the NSE.
RailTel Corporation’s ₹ 819 crore initial public offer (IPO) was an offer for sale by the government as part of the divestment programme. The IPO was subscribed 42 times. The share offering was subscribed 16.78 times in the retail category, 65.14 times in qualified institutional buyer segment and 73.25 times in the non-institutional investor group. The public issue was open for three days between February 15 and February 18.

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