The 819-crore RailTel Corporation of India Limited's initial public offering (IPO), which was subscribed 42.39 times, will finalise the basis of the allotment of the IPO on February 23, 2021.
The 819-crore RailTel Corporation of India Limited’s initial public offering (IPO), which was subscribed 42.39 times, will finalise the basis of the allotment of the IPO on February 23, 2021. The public issue received overwhelming response from investors across all categories with qualified institutional buyers (QIBs) subscribing their portion 65.14 times. Non-institutional investors subscribed their reserved portion 73.25 times and retail individual investors (RIIs) 16.78 times. In the grey market, RailTel Corporation of India shares were seen trading with a Rs 14 premium over the issue price. The shares were commanding a 15 per cent grey market premium at Rs 108 apiece.
Indian Railways owned RailTel Corporation of India Limited is likely to make its share market debut on February 26. In December 2018, the cabinet had approved the IPO of RailTel Corporation of India by diluting up to 25 per cent government stake. Nirali Shah, Head of Equity Research, Samco Securities, said that the company is fairly priced at its FY20 P/E of 21.3 times. “It has been commanding a good grey market premium indicating the offer will sail through but keeping the risks in mind, we recommend investors to subscribe for listing gains only,” Shah said. Once the basis of share allotment is done, investors can check their subscription status on RailTel Corporation of India Limited via registrar’s website, i.e. from KFin Technologies Private Limited, a SEBI-registered entity responsible for the IPO allotment and refund processing, and from BSE website.
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How to check RailTel Corporation of India share allotment status via KFintech Private Ltd website
Investors can check the allotment status on KFin Technologies website under ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that select the IPO and enter either your application number or DPID/Client ID or PAN. In case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit.
Check RailTel Corporation of India share allotment status via BSE website
Another way to check the allotment status in RailTel Corporation of India is through BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select the issue type as ‘equity’, and the issue name as ‘RailTel Corporation of India’ from the drop-down list, when it gets declared. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.