Railtel Information Communication Technology is an infrastructure provider company. It is controlled by the Ministry of Railways.
This year, more than two dozen IPOs may hit the market. Now the state-run Rail Tail is also preparing for an IPO. Its IPO subscription will open on 16 February. It will be open till 18 February. Rail Tail Corporation of India has kept its price band of 93-94 rupees. The government aims to raise Rs 819 crore through this IPO.
Price band Rs 93-94
Under the IPO, 8,71,53,369 shares will be offered through offer for sale. Five lakh shares are reserved for employees of companies. The money received from this offer will go to the government. The book running lead managers of the IPO are ICICI Securities, IDBI Capital Markets & Securities and SBI Capital Markets.
The price band has been fixed at Rs 93-94 per share. This is 9.4 times more than its face value. The lot size of the IPO offer has been kept at 155 shares. That is, you have to apply for at least 155 shares. That is, you have to invest at least Rs 14,570 in the IPO.
What does the company do?
Rail Tail Corporation of India is an IC infrastructure provider company. It is the leading telecom infrastructure provider company. Started in the year 2000, the control of this company is with the Ministry of Railways.
Its products and services include Telecom Network Services, Telecom Infrastructure Services, Data Center & Hosting Services and System Integration Services. The company earns by providing train control operations, security and broadband and multi-media network facilities across the country.
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