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RailTel IPO subscribed 2.64 occasions on first day

The preliminary public provide of telecom infrastructure supplier RailTel Corporation of India was subscribed 2.64 occasions on the first day of subscription on Tuesday. The Rs 819.24-crore provide acquired bids for 16,13,74,220 shares as in opposition to 6,11,95,923 shares on provide, as per an replace on the NSE.

The class meant for non-institutional buyers was subscribed 75 per cent and people for Retail Individual Investors (RIIs) received subscribed 4.99 occasions.

The public difficulty is of 8,71,53,369 fairness shares and the price vary is Rs 93-94 per share.

The firm has raised Rs 244 crore from 14 anchor buyers. It included participation from UK-based Aurigin Capital through its Aurigin Master Fund and Utilico Emerging Markets Trust, Reliance Capital-managed Cohesion MK Best Ideas Sub-Trust, Singapore-based Integrated Core Strategies Asia and Goldman Sachs India.

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Domestic buyers like HDFC Life Insurance Company, ICICI Prudential MF, Aditya Birla Sun Life Insurance, Tata MF, Edelweiss AIF additionally participated within the anchor funding spherical.

The provide is being managed by ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd, and SBI Capital Markets Ltd. 

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