RailTel IPO subscribed 2.64 times on first day

The initial public offer of telecom infrastructure provider RailTel Corporation of India was subscribed 2.64 times on the first day of subscription on Tuesday.

The Rs 819.24-crore offer received bids for 16,13,74,220 shares as against 6,11,95,923 shares on offer, as per an update on the NSE.

The category meant for non-institutional investors was subscribed 75 per cent and those for Retail Individual Investors (RIIs) got subscribed 4.99 times.

The public issue is of 8,71,53,369 equity shares and the price range is Rs 93-94 per share.

The company has raised Rs 244 crore from 14 anchor investors. It included participation from UK-based Aurigin Capital via its Aurigin Master Fund and Utilico Emerging Markets Trust, Reliance Capital-managed Cohesion MK Best Ideas Sub-Trust, Singapore-based Integrated Core Strategies Asia and Goldman Sachs India.

Domestic investors like HDFC Life Insurance Company, ICICI Prudential MF, Aditya Birla Sun Life Insurance, Tata MF, Edelweiss AIF also participated in the anchor investment round.

The offer is being managed by ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd, and SBI Capital Markets Ltd.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)