Telecom infrastructure provider RailTel Corporation of India which made its debut on the bourses on Friday started off with a 15.96% premium on February 26. The stock opened at Rs 109 on the National Stock Exchange, against an issue price of Rs 94 per share, while on BSE the scrip opened at Rs 104.60 per share.
On the BSE, RailTel Corporation shares climbed to trade at Rs118.90 on the BSE, up 13.67% with a volume of 75.27 lakh equity shares (12 noon).
The initial public offer of RailTel Corporation of India was subscribed 42.39 times on the final day of subscription on February 18. The Rs 8,192.4 million offer received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer, as per data available with the NSE.
The qualified institutional buyers (QIBs) category was subscribed 65.14 times, non institutional investors 73.25 times and retail individual investors (RIIs) 16.78 times.
Incorporated in 2000, RailTel Corporation of India is an information and communications technology infrastructure provider and one of the largest neutral telecom infrastructure providers in the country. RailTel Corporation kicked off its Rs 8,200 million initial public offer (IPO) on Tuesday.