Indian Railways owned RailTel’s IPO: Here’s how to check share allotment status
- The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp received tremendous response from investors.
- The IPO garnered 42 times subscription and generated bids worth more than ₹259.42 crore against the offer size of 6.12 crore shares.
- Here’s how to check RailTel IPO allotment status on the stock-exchange and registrar website.
- Check out the latest news and updates on Business Insider.
AdvertisementThe ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp received tremendous response from investors. And, now all investor’s eyes are waiting for the allotment date. The basis of the allotment of the IPO will be announced on February 23.
RailTel is a government-owned information and communications technology (ICT) infrastructure provider firm and India's largest neutral telecom infrastructure provider. This was the seventh initial public offering this year and second by the Ministry of Railways after it recently pared stake in Indian Railway Finance Corporation IPO— which listed at a 4% discount last month.
The IPO was subscribed 42 times and generated bids worth more than ₹259.42 crore against the offer size of 6.12 crore shares. The portion of the IPO reserved for retail investors was subscribed 16.78 times, whereas the qualified institutional buyer was subscribed 65.29 times.
It would be worth watching if this high demand will reflect as listing gains on February 26, when the stock will hit the bourses. The shares were trading at a premium of ₹25-30 a piece in the grey market, ahead of the listing. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market.
|RailTel IPO||Qualified Institutional Buyer||Non-institutional Investor||Retail Individual Investor||Employee||Total|
However, after this stellar response that RailTel IPO has garnered, one thing is certain — not all investors will get the same amount of shares that they had subscribed for.
Here’s how to check RailTel IPO allotment status:
If you subscribed for the RailTel IPO, you could check your allotment status by following these simple steps:
To check on the stock-exchange website:
- To check RailTel IPO allotment status, go to the BSE website or NSE website here.
- On BSE, Select ‘Equity’ and then from the dropdown, select ‘RailTel’.
- Now, enter your application number and PAN.
- Click on ‘Search’.
You can also visit the Registrar website (KFintech) to check your application status.
- Visit the registrar’s website here.
- Click on ‘Select company’ and click on ‘RailTel’. It will only appear post allotment on February 23.
- Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.
- Enter the captcha and click ‘submit’.
SEE ALSO: 6 royal baby traditions Meghan Markle and Prince Harry won't be expected to follow
Fraudulent transactions of ₹6,182 crore in DHFL unearthed
Popular on BI
- Not hard, not soft, the earliest dino eggs may have been of a 'leathery' texture to protect against damage: study
- Don't need to go big to go home: Australia is turning to sustainable 'tiny houses' to fix their housing crisis!
- Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL
- Carbon tax turns into climate fight at COP28
- Market to focus on macro data, global trends: Analysts