The RailTel IPO of ₹819 crore closed for subscription on the 18th of February 2021. The allotment of the IPO is expected to be finalized on 23rd February 2021. The IPO was subscribed a massive 42.39 times with qualified institutional buyers (QIBs) subscribing their portion 65.14 times. Retail investors had subscribed their portion 16.78 times and non-institutional investors subscribed their reserved portion 73.25 times.
The RailTel IPO shares are trading at a premium of ₹14 from their issue orice in the grey market.
How to check allotment status?
The RailTel IPO allotment status can be checked on the website of KFintech. One needs to select the IPO from the drop down list, provide their Application no./Client ID/PAN and then enter the captcha. Once this is done, the allotment status can be checked.
Alternatively, the investors can check the status via the BSE website. One needs select the issue type as “equity”. Then select the issue name, provide the application number and PAN number. The allotment status of the investor can be seen once all these details have been provided.
RailTel Company profile
RailTel is a company owned by the government. It has been classified as a “Miniratna”. A miniratna is a Public Sector Enterprise (PSE) which has earned profits continuously in the past three years and has earned a net profit of at least ₹30 crores in any one of the past 3 years. RailTel is the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along railway track.
In our article regarding whether you should subscribe to the RailTel IPO, we had advised to subscribe. At that time the shares were trading in the grey market at a 50% premium. We anticipate strong listing gains from this IPO.