RailTel's Rs 820-cr IPO subscribed 2.6 times on Day-1; Nureca by 15x

The retail portion of RailTel's issue has already garnered 5x subscription. On Monday, the state-owned firm allotted shares worth Rs 244 crore to anchor investors

The Rs 820-crore initial public offering (IPO) of telecom infrastructure provider RailTel Corporation of India (RailTel) was subscribed 2.6 times. 

The retail portion of the issue has already garnered five times subscription. On Monday, the state-owned firm allotted shares worth Rs 244 crore to anchor investors. 

The IPO price band is Rs 93-94 per share. At the top-end, Railtel will have market cap of Rs 3,000 crore. 

In FY20, the company had clocked net profit of Rs 140 crore on revenues of Rs 1,128 crore. RailTel’s IPO closes on Thursday. 

Meanwhile, the Rs 100-crore IPO of Nureca, a wellness product distributor, was subscribed 15 times a day before its close.