The preliminary public providing (IPO) of RailTel has been subscribed more than 42 times because the supply ended on Thursday. The IPO opened on Tuesday, February 16.
Taking to Twitter, Secretary, Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey mentioned: “RailTel IPO received great demand from all categories of investors and was subscribed more than 42 times. We thank all investors for their participation.”
The whole dimension of the supply was of Rs 819.24 crore on the higher value band of Rs 94 per share.
The supply comprised of 87,153,369 fairness shares of face worth of Rs 10 every and was a whole supply on the market by the federal government. The firm wouldn’t straight obtain any proceeds from the identical.
The minimal bid lot was of 155 fairness shares, thereafter in multiples. The value band was fastened at Rs 93-94 per fairness share.