RailTel Shares Close 29% up Amidst Market Sell-off

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 offered 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.