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RailTel IPO subscribed 42 times; firm heads for Rs 3,000 cr valuation

The institutional investor portion of the IPO was subscribed 65 times and the high-net-worth individual (HNI) portion was subscribed 73 times

IPO, startups, company, firms
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Illustration: Ajay Mohanty

Sundar Sethuraman Mumbai
The initial public offering (IPO) of state-owned telecom infrastructure provider RailTel Corporation of India (RailTel) got bids 42 times more demand than the shares on offer.

The offering for 61 million shares got bids for 2.6 billion. The institutional investor portion of the IPO was subscribed 65 times and the high-net-worth individual (HNI) portion was subscribed 73 times. The retail and employee categories were subscribed 17 times and 3.4 times, respectively. Given the high demand, the government is likely to price the Rs 820-crore IPO at Rs 94, the top-end of the price band. At that price, the company will

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First Published: Feb 18 2021 | 5:14 PM IST

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