The initial public offering (IPO) of RailTel was subscribed over 42 times on Thursday, third and final day of the share sale.
RailTel Corp. of India’s IPO had opened on Tuesday, February 16.
“RailTel IPO received great demand from all categories of investors and was subscribed more than 42 times. We thank all investors for their participation,” Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey said in a tweet.
The total size of the offer was Rs 819.24 crore at the upper price band of Rs 94 per share.
The offer comprised 87,153,369 equity shares of face value of Rs 10 each and was a complete offer for sale by the government. The company would not directly receive any proceeds from the same.
The minimum bid lot was 155 equity shares, thereafter in multiples. The price band was fixed at Rs 93-94 per equity share