RailTel likely to announce IPO allotment status today; check bseindia.com for details

RailTel Corporation of India is likely to finalise the allotment of its initial public offering (IPO) today, 24 February. The Rs 819 crore IPO was open for subscription from 16 February and 18 February and was initially scheduled for allotment on 23 February. Investors can check their allotment status through the KFin Technologies website or through the official website of BSE. The KFin Technologies website manages share allotment and refunds. Investors can go to the official website of KFin - ris.kfintech.com/ipostatus - select the IPO and check their application number of DPID>Client ID or permanent account number (PAN) details. Alternatively, investors can visit bseindia.com, select the issue type as equity and issue name as RailTel Corportation of India, when the allotment is declared. As per an earlier report, when RailTel Corporation of India opened for subscription on 16 February, the company received 35 percent subscription within 40 minutes of the bidding process. The issue received bids for 2,15,16,635 shares, which was 35 percent of the total issue size of 6,11,95,923 shares. On the final day of the bidding process, the RailTel Corporation IPO was subscribed over 11 times , receiving bids for 68,40,41,660 shares. This was 11.18 times the total issue size of 6,11,95,923 shares. RailTel Corporation of India, a central public sector enterprise, is wholly-owned by the Government of India and is under the administrative control of the Ministry of Railways. It is an information and communications technology infrastructure provider as well as one of the largest neutral telecom infrastructure providers in India. RailTel IPO had a price range of Rs 93 to Rs 94 per share. In this IPO, the government is selling 27.16 percent stake. RailTel Corporation India, the second initial public offering by the Ministry of Railways, is the seventh offering this year. RailTel share is commanding a grey market premium (GMP) of Rs 25 to Rs 30 before the listing. The Indian Railway Finance Corporation (IRFC) was listed at a 4 percent discount in January.