RailTel Corporation of India on Friday got listed on the NSE with a premium of 16 per cent against its issue price of Rs 94 apiece.
Despite the selloff in the broader market, the stock made a debut at Rs 109, a gain of 15.95 per cent compared with the issue price on the NSE.
On the BSE, shares of the company got listed at Rs 104.60, a rise of 11.27 per cent. The company’s market valuation stood at Rs 3,846.45 crore.
The initial public offer was subscribed over 42 times.
The qualified institutional buyer (QIBs) category was subscribed 65.14 times, non-institutional investors 73.25 times and retail individual investors 16.78 times.
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 along railway track. The company provides broadband telecom and multimedia networks across the country.
