RailTel shares close 29% up amidst market sell-off
Market Cap at closing price stood at Rs 3,896 cr on BSE
Chennai, February 26, 2021: RailTel Corporation of India Limited (“RailTel”), one of the largest neutral telecom infrastructure providers in the country, listed on the exchanges at a 11.27% premium over its issue price. The shares of the company on trading closure settled at Rs 121.40 per share on BSE and Rs 120.60 per share on NSE. The shares touched a high of Rs. 125.50 with a premium of 33.51.% on BSE and Rs 127.85 with a premium of 36.01% on NSE.
As per BSE, the total quantity traded stood at 1,58,51,574 shares with a delivery quantity percentage of 22.99%. Quantity traded and delivery quantity percentage at NSE was 12,03,65,893 shares and 30.57 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs. 13,62,17,467. The Market Capitalization of the Company post today’s closing price stood at Rs. 3,896.19 crores as per BSE data.
The issue had received approximately 23,79,717 applications for the IPO which is second highest, after IRFC, amongst the Railway PSU category.The initial public offering, whose IPO closed on February 18, 2021, was off red at a lower price band of Rs 93 and higher price band of Rs 94 per equity share and found a great response from all investor categories to be overall subscribed over 42.42 times.
Speaking on the tremendous response garnered on the listing day, Mr. Puneet Chawla, Chairman and Managing Director, RailTel Corporation Of India said, “We are overwhelmed with the response from the market. Listing at premium of 11.27% over the IPO price, particularly on a day when the market was down almost 2000 points, is very encouraging and we would make all our efforts to keep the investor confidence high.
ICICI Securities Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited were the BRLMs to the Offer.
About RailTel Corporation Of India
RailTel Corporation a “Mini Ratna (Category-I)” PSU is one of the largest neutral telecom infrastructure provide rs in the country (Source: CRISIL Report “Assessment of the telecom and telecom data services industry in India” dated September 2020) owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The OFC network covers several towns & cities of the country and several rural areas.
RailTel offers a diversified portfolio of ICT services and solutions including MPLS-VPN, leased lines services, TPa aS, e-Office services and data center services, large network hardware system integration, software and digital services to enterprises, public sector banks, defense organisations and educational institutions; operated throu gh data centers located in Gurugram, Haryana,Secunderabad and Telangana to host and collocate critical appli catio ns for customers including the Indian Railways. RailTel is also appointed by the Ministry of Railways for implementation of the Hospital Management Information System and also allotted its e-Office Project Phase 3 project to RailTel.
