RailTel shares list at a premium, close 29% up amidst market sell-off

New Delhi/Mumbai: RailTel Corporation of India Limited (RailTel), one of the largest neutral telecom infrastructure providers in the country, listed on the exchanges at an 11.27 percent premium over its issue price. The shares of the company on trading closure settled at Rs 121.40 per share on BSE and Rs 120.60 per share on NSE. The shares touched a high of Rs 125.50 with a premium of 33.51 percent on BSE and Rs 127.85 with a premium of 36.01 percent on NSE.

As per BSE, the total quantity traded stood at 1,58,51,574 shares with a delivery quantity percentage of 22.99 percent. Quantity traded and delivery quantity percentage at NSE was 12,03,65,893 shares and 30.57 percent respectively. Total turnover (BSE+NSE) on Day 1 stood at Rs 13,62,17,467. The market capitalisation of the company post today’s closing price stood at Rs 3,896.19 crore as per the BSE data.

ALSO READ: RailTel IPO gets massive response, subscribed over 42 times

The issue had received approximately 23,79,717 applications for the IPO which is the second-highest, after IRFC, amongst the Railway PSU category. The initial public offering, whose IPO closed on February 18 was offered at a lower price band of Rs 93 and a higher price band of Rs 94 per equity share and found a great response from all investor categories to be overall subscribed over 42.42 times.

Speaking on the tremendous response garnered on the listing day, RailTel’s Chairman & Managing Director (CMD) Puneet Chawla said, “We are overwhelmed with the response from the market. Listing at premium of 11.27 percent over the IPO price, particularly on a day when the market was down almost 2000 points, is very encouraging and we would make all our efforts to keep the investor confidence high."

ICICI Securities Limited, IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited were the BRLMs to the offer.

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