Mumbai, February 16: RailTel Corporation of India's Rs 820 crore IPO opens for subscription today. The state-run company has fixed a price band of Rs 93-94 a share for its initial share-sale. The IPO will close on February 18. The Mini Ratna company's issue will be listed at both BSE and NSE.
RailTel IPO is entirely an offer-for-sale. Thus the company will not receive any fund from the IPO. The last railway IPO that hit the Street was IRFC, had a weak market debut. So investors are hoping for a good performance of RailTel IPO subscription. Indian Railway IPO 2021: IRFC's Rs 4,600 Crore IPO Opens on January 18, Know The Share Price.
Here's how you can apply online for Railtel IPO:
- Download Google Play from the playstore on your mobile.
- Link your registered bank account with the same.
- After you link you UPI, your ID will get generated with your bank name automatically added in the end.
- Apply for the RailTel IPO either from your brokers platform or from your mobile platform.
- After you enter your UPI ID in the IPO application form, then click the submit button.
- When you get a fund block request, approve it so that the fund gets blocked in your account for the IPO.
RailTel provides broadband telecom and multimedia network across the country and is one of the largest neutral telecom infrastructure providers in the country.
According to an Economic Times report, prospective investors can subscribe to the IPO by buying a minimum of one lot of 155 shares, and in multiples thereof. Retail investors can thus bid for a maximum of 13 lots at the lower band limit.
(The above story first appeared on LatestLY on Feb 16, 2021 10:09 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).