State-owned information and communications technology infrastructure provider RailTel Corporation of India is expected to finalise the IPO share allotment in the coming week, after witnessing the stellar response from investors to its IPO.
The finalisation of IPO basis of allotment will take place on February 23 and the shares will get credited to the demat accounts of eligible investors around February 24, as per the schedule available in the prospectus.
The company will refund money (if any to anchor investors) and unblock funds from ASBA account on February 24, while the shares will start trading on the bourses with effect from February 26.
Investors can check their IPO share allotment status on the website of IPO's registrar in few easy steps.
1) Select IPO (RailTel Corporation of India), 2) In case you select Application Number, Select NON-ASBA or ASBA and Enter Application Number, In case of DPID/Client ID, Select NSDL/CDSL, and Enter DPID and Client ID, In case of PAN, Enter PAN Number. 3) Enter Captcha mentioned in digits with green colour just above Captcha box, and finall click on Submit button to know the IPO share allocation status.
One can also check the application status on the BSE Website. Select Issue Type (Equity) and Issue Name (RailTel Corporation of India), Enter Application Number and PAN Number, and finally Click on Search button to know the IPO allotment status.
RailTel Corporation, the second public issue from the Government of India after IRFC IPO, was subscribed 42.4 times during February 16-18, 2020. The Rs 819-crore initial public offer was a complete offer for sale by the government and a part of divestment programme set for FY21.
The company in consultation with merchant bankers is expected to finalise the issue price at Rs 94, the higher end of the price band, given the subscription demand.
RailTel is India’s largest neutral telecom infrastructure provider with pan-India optic fiber network, diversified portfolio of service and solution, key partner to India Railways in digital transform.
As of January 2021, it had exclusive right of way along 67,415 route kilometers connecting 7,321 railway stations for laying optical fiber cable. RailTel has 59,098 route kilometers of optical fiber cable network and has connected 5,929 railway stations across towns and cities in India.
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