RailTel Corporation is set to launch its initial public offer (IPO) for subscription on February 16, 2021. The price band for the public issue has been fixed at Rs 93-94 per share, which is 9.3-9.4 times the face value of equity shares. The offer will close on February 18, 2021.
As part of this IPO, the government is putting 87,153,369 equity shares on sale. Of this, around 500,000 equity shares may be reserved for the company’s employees.
The offer will give Rs 8.19 billion at higher price band to the government. Hence, the company will not get any money from this offer.
Further, investors can bid for a minimum 155 equity shares and in multiples of 155 equity shares thereafter.