RailTel IPO to open on February 16, price band fixed at Rs 93-94

Ministry of Railways-owned RailTel will launch its IPO on February 16 this year. The share sale, which will end on February 18, will be priced at Rs 93 to Rs 94 per equity share. The minimum market lot size for the IPO is 155 shares, where an individual investor can apply for up to 13 lots (2015 shares or Rs 189,410).

RailTel Corporation of India's Rs 819.24 crore initial public offer is a complete offer for sale of 8,71,53,369 equity shares by the government.

The President of India, acting through the Ministry of Railways is the promoter of the company.

As per the company's DHRP, the IPO net proceeds are to be used towards following purposes carrying out the disinvestment plan and to achieve the benefits of equity share listing on the stock exchanges.

KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Incorporated in 2000, RailTel Corporation is a public sector business unit, wholly owned by the Government of India (GOI) and administrated by the Ministry of Railways.

The Information and Communication Technology (ICT) infrastructure provider company has covered an optic fibre network over 55,000 Km and 5677 railway stations as on 30 June 2020 and has data centres in Haryana, Gurugram, Secunderabad, and Telangana.

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