Rs 819-cr RailTel IPO to open today

The initial public offer (IPO) is an offer-for-sale through which Centre will offload 87,153,369 equity shares, amounting to 27.16 pc stake, a release said. 

At the upper end of the price band, the government would raise a little over Rs 819 crore. 

The three-day issue would close on February 18. The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fibre network on exclusive Right of Way (RoW) along railway track. 

RailTel provides broadband telecom and multimedia network across the country. Half of the issue is reserved for qualified institutional buyers, 35 pc for retail investors, 15 pc for non-institutional bidders. As on June 30, 2020, its optic fiber network covers over 55,000 km and 5677 railway stations.