Investors may subscribe for a minimum of 155 shares and up to 13 lots in some of them. The 820 crores initial public offer (IPO) of RailTel Corporation opens for subscription today, i.e. 16th of February. It will remain open to the public for three days until 18 February. RailTel's shares are likely to be listed on February 26 on the BSE and NSE exchanges. The initial public offer is an offer by the government to sell 8,71,53,369 shares of equity, of which 5 lakh shares would be reserved for employees. Investors will bid for a minimum of 155 equity shares for one lot and up to 13 lots in multiples afterward. The stock will be issued at a price per share of 93-94.
Investors may subscribe for a minimum of 155 shares and up to 13 lots in some of them. In September 2000, RailTel was incorporated. With more than 55,000 kilometers of optical fiber cable network linking 5,677 railway stations, it is one of the largest neutral telecommunications infrastructure providers in India. In the meantime, on the first day of the issue, Nureca's ~ 100 crores three-day initial public offering (IPO), which opened for subscription on February 15, was oversubscribed. According to data on the NSE, Nureca IPO saw 60,97,840 bids for its shares at the cut-off point.