The RailTel Corporation, a state-owned company of the Indian government, launched its IPO on February 16. The public offering of RailTel Corporation of India IPO comprises a total of 2.2 million shares worth Rs. 819 crore, and a full offer for sale by the Government of Indian Feb. RailTel Corporation, which is fully owned and managed by the Railway Ministry, has come up for a Rs. 819 crore IPO, which is scheduled to open on Tuesday 16.
The IPO will open on February 16 and will last until February 18. The main objective of the offer is to complete a full tender offer for 2.2 million shares worth Rs. 819 crore, owned by the Indian government. The issue is conditional on the government selling a 27.16% stake in the company. In addition, the Indian government will sell a total of 1.5% of the shares in RailTel Corporation.
RailTel Corporation, a Mini Ratna PSU, is a subsidiary of Indian Railway Corporation of India, the parent company of RailTel Ltd. Tel is the only public-private partnership (PSU) in India with a total market capitalization of $1.2 billion. It is an independent company with annual sales of over Rs. 1,000 crore and average annual revenue of over $3.5 billion in 2014-15.
RailTel is a public sector company wholly owned by the Government of India (GOI) and managed by the Ministry of Railways. It has been allocated to certain states comprising 36,000 panchayats, including Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Tamil Nadu, West Bengal, Andhra Pradesh and Telangana.
Established in 2000, RailTel Corporation is a public sector entity under the Ministry of Railways and an integral part of the Indian government’s efforts to achieve key objectives of telecommunications infrastructure modernisation. The company owns a pan-Indian fibre network owned by Rail Tel. It is the largest of its kind in the world and has its own fibre optic cable with a length of more than 1,000 km.
This will be used to implement the divestment plan and to achieve the benefits of listed shares. Details of RailTel’s IPO include the promoter’s information, the company’s financial data, the annual financial statements and other relevant information. Stay tuned to see the full review of Railtel’s IPO, including details of the offer, price range, terms and conditions of the offer and more.
The allotment of the RailTel IPO has not yet been announced, but we will provide a link to the status once the allotment has expired. The most well-known dates are the start date of the IPO, which should be used for those interested in the IPO, and the end date for all other investors. [Sources: 9]
News18 Hindi reports that the allocation of shares is expected on February 23, while the listing of shares on the NSE and BSE could take place on or before February 26.
The RailTel Corporation of India IPO will be registered with KFintech Private Limited and the shares will be listed on the BSE and the National Stock Exchange (NSE). After completion of the IPO, the shares will be listed on the BSE(Bombay stock exchange) and NSE (National stock exchange). RailTel shares are listed on two exchanges: the National Securities Exchange of India (NASSE) and the Indian Stock Exchange (ISE). The shares have been proposed for listing on each of these exchanges or are currently being offered. The shares will be listed on both B SEES and N SESE, according to a press release from the company.
The public offering of Corporation of India Ltd is for shareholders only and not for any other purpose. The company will not receive any funds from the IPO, as the money will go to the Indian government. 819 Rs crore, which could be increased by the government at the upper end of the price range.
You can apply for the IPO of Railtel Corporation of India by downloading the IPO from your bank or broker or by clicking on the AMC form and checking it for NSE or BSE. Fill in the blank IPO form and send it to the broker or fill it out from the bank and click on it and download it.
If you want to make a physical application, simply go to the online bank login and download the application for an IPO from RailTel and submit it to your nearest bank or broker. Apply by selecting the name of the Railtel Corporation of India and the address of your bank, broker or brokerage firm.
TradeSmart Online offers the possibility to apply for an IPO of RailTel via its own platform. If you are a broker, you can apply to the Rail Tel IPO through your broker’s website. The broker is a 3-to-1 service provider, brokers are mediated by 3-1 service providers and traded on the online marketplace TradeSmart.
RailTel derives a substantial part of its revenue from the wholesale and retail business of the Indian Railway, as well as from business with domestic and foreign customers. The company’s main customers are the Indian Railway Corporation, the Railway Board and the National Rail Corporation of India.
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