State-owned information and communications technology infrastructure provider RailTel Corporation of India has decided to launch its maiden public offer for subscription on February 16.
About Company
Railtel, a Miniratna fully owned by the central government that provides telecom and data services to the public and private sectors, and is one of the largest neutral telecom infrastructure providers in India.
It operates an optic fibre network covering over 59,098 route kilometres and 5,929 railway stations in India. It has the exclusive right of way along 67,415 kilometres connecting 7,321 railway stations.
It provides Wi-Fi services at railway stations with 16 million unique users a day and 30.01 million average user logins a month.
Important Dates
Price Band
The price band for the public issue has been fixed at Rs 93-94
Lot Size
One can bid for a minimum of 155 equity shares and in multiples thereafter, implying a minimum application amount of Rs 14,570.
Retail investors can bid for 13 lots, or 2,015 shares, at the most.
IPO Composition
Railtel’s offer will comprise of 8.71 crore shares of face value Rs 10 each, including 5 lakh shares reserved for its employees.
The IPO is offer for sale of shares by President of India acting through the Ministry of Railways.
Reservation Category
In all, 50 per cent of the issue size is reserved for qualified institutional buyers. Of the remaining, 15 per cent is blocked for HNIs and 35 per cent for retail investors.
Grey Market
The premium on the unlisted shares of RailTel has surged to Rs 44-47 in the grey market, the unofficial market for trading in unlisted shares.
Company’s Financial
| Particulars | For the year/period ended (Rs in million) | |||
|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 24,821.50 | 23,981 | 22,276.75 | 23,228.79 |
| Total Revenue | 5,537.84 | 11,660.05 | 10,382.66 | 10,212.18 |
| Profit After Tax | 455.84 | 1,410.66 | 1,353.56 | 1,340.06 |
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