RailTel IPO allotment status likely to be finalised today

RailTel Corporation

The basis of allotment for RailTel Corporation of India Limited’s Rs 819-crore initial public offering (IPO) is expected to be finalised on February 23, 2021. The shares will get credited to the demat accounts of eligible investors around February 24, as per the schedule available in the prospectus.

The company will refund money (if any to anchor investors) and unblock funds from ASBA account on February 24, while the shares will start trading on the bourses with effect from February 26.

Investors can check their IPO share allotment status on the website of IPO’s registrar in few easy steps.

1) Select IPO (RailTel Corporation of India),2) In case you select Application Number, Select NON-ASBA or ASBA and Enter Application Number,In case of DPID/Client ID, Select NSDL/CDSL, and Enter DPID and Client ID,In case of PAN, Enter PAN Number.

3) Enter Captcha mentioned in digits with green colour just above Captcha box, and finall click on Submit button to know the IPO share allocation status.

One can also check the application status on the BSE Website. Select Issue Type (Equity) and Issue Name (RailTel Corporation of India), Enter Application Number and PAN Number, and finally Click on Search button to know the IPO allotment status.

The maiden public issue of the state-owned information and communications technology infrastructure provider, which was floated between February 16-18, 2021, was subscribed 42.39 times, receiving the highest-ever retail participation (16.78 times) among the six IPOs from the Railways that have hit the market so far. Qualified institutional buyers (QIBs) subscribed their reserved portion 65.14 times, while non-institutional investors subscribed 73.25 times and retail individual investors (RIIs) 16.78 times.

The company in consultation with merchant bankers is expected to finalise the issue price at Rs 94, the higher end of the price band.

News Source:- Moneycontrol

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