RailTel Corporation share up by 40% in grey market
RailTel Corporation share up by 40% in grey market

With just days left for RailTel Corporation’s initial public offer (IPO) from opening, the grey market premium of this IPO rose by 42 per cent, stated a new report. The public offer of the company will open for subscription on February 16 and close on February 18. The price band for the public issue has been fixed at Rs 93-94 per share.

It is a debt-free company, which is planning to raise Rs 819 crore via IPO route. Around 8.71 crore equity shares which is a complete offer for sale is offered by the government. The proceeding from this IPO will be given to the government and the company will not get any money from the offer.The minimum market lot size for the IPO is 155 shares.

The revenue from operations of this state-run company grew at a CAGR of 7.47 per cent during the financial year 2018-2020.

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