<p> State-owned RailTel Corporation of India on Thursday fixed a price band of Rs 93-94 a share for its initial share-sale, which will open for public subscription on February 16.</p>.<p>The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement.</p>.<p>At the upper end of the price band, the government would raise a little over Rs 819 crore.</p>.<p>The three-day issue would close on February 18 and the anchor investors portion would be open for subscription on February 15.</p>.<p>The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track.</p>.<p>The company provides broadband telecom and multimedia network across the country.</p>.<p>Half of the issue is reserved for qualified institutional buyers, 35 per cent for retail investors, 15 per cent for non-institutional bidders.</p>.<p>As on June 30, 2020, its optic fiber network covers over 55,000 kms and 5677 railway stations across towns and cities in the country.</p>.<p>ICICI Securities, IDBI Capital, SBI Capital Markets are merchant bankers to the issue.</p>.<p>In December 2018, the cabinet had approved IPO of RailTel Corporation by diluting up to 25 per cent government stake</p>
<p> State-owned RailTel Corporation of India on Thursday fixed a price band of Rs 93-94 a share for its initial share-sale, which will open for public subscription on February 16.</p>.<p>The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement.</p>.<p>At the upper end of the price band, the government would raise a little over Rs 819 crore.</p>.<p>The three-day issue would close on February 18 and the anchor investors portion would be open for subscription on February 15.</p>.<p>The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track.</p>.<p>The company provides broadband telecom and multimedia network across the country.</p>.<p>Half of the issue is reserved for qualified institutional buyers, 35 per cent for retail investors, 15 per cent for non-institutional bidders.</p>.<p>As on June 30, 2020, its optic fiber network covers over 55,000 kms and 5677 railway stations across towns and cities in the country.</p>.<p>ICICI Securities, IDBI Capital, SBI Capital Markets are merchant bankers to the issue.</p>.<p>In December 2018, the cabinet had approved IPO of RailTel Corporation by diluting up to 25 per cent government stake</p>