RailTel public issue subscribed 42x on final day

Mumbai: Investors poured money into state-owned RailTel Corporation’s Rs 820-crore initial public offering (IPO) with the issue getting subscribed 42.42 times on Thursday, the final day of the bidding process. The offering received bids for 259.42 crore shares as against the total issue size of 6.12 crore shares.

The portion reserved for retail investors was subscribed 16.78 times while the qualified institutional buyer segment was subscribed 65.29 times.

The non-institutional investor category was subscribed 73.25 times. The issue is an offer for sale by the government of 8.71 crore shares, which were offered in the price band of Rs 93-Rs 94.


The extent of bids received by RailTel’s IPO is the third-highest among government companies in the past five years.

Puneet Chawla, chairman, RailTel Corporation, said, “It is heartening to see the overwhelming response from investors across all categories. The overall 42.42 times subscription speaks volume of the faith the investors have shown in our company.”

RailTel Corporation had on Monday raised Rs 244 crore from 14 anchor investors.