A day prior to the opening of its initial public offer (IPO), RailTel Corporation of India raised Rs 2.44 billion from 14 anchor investors on February 15, 2021. According to the company, it allocated 25,957,446 equity shares at Rs 94 per share to anchor investors including five foreign portfolio investors and six mutual funds.
The five foreign portfolio investors which had participated in the anchor book are Goldman Sachs India, Utilico Emerging Markets Trust, Cohesion MK Best Ideas, Singapore-based Integrated Core Strategies Asia and Aurigin Master Fund.

Further, domestic investors include HDFC Life Insurance which picked up the largest allocation of 14.34 per cent for Rs 349.9 million, followed by Nippon Life MF at 12.29 per cent amounting to Rs 299.9 million. Other domestic investors that were allocated shares include ICICI Prudential MF across four schemes; HDFC MF across four schemes; IIFL Mutual Fund via its Focused Equity Fund, Tata Mutual Fund via its Digital India Fund and Edelweiss Mutual Fund across four schemes. The AIF who participated in the anchor bidding was Edelweiss AIF via its Crossover Opportunities Fund Series II.

The Rs 8.19 billion IPO of RailTel Corporation opened for subscription on February 16, 2021 at a price band of Rs 93-94 per share and will close on February 18, 2021. According to industry reports, the company received bids of 161,330,820 shares which was 2.6 times of the total issue size of 61,195,923 shares, on February 16, 2021. Further, the portion reserved for retail investors was subscribed 4.99 times.