New Delhi: Indian Railways owned RailTel Corporation of India Limited is scheduled to finalise the initial public offering (IPO) share allotment on Tuesday, February 23. Initiation of refunds would be done by Wednesday and credit of equity shares to investors is likely to take place by Thursday. The 819-crore RailTel Corporation of India Limited’s IPO received profuse response from investors as it was subscribed 42.39 times. Also Read - EaseMyTrip IPO Opens for Subscription: Here's How You Can Subscribe, Check Price Band, Lot Size and Other Details
While Qualified institutional buyers (QIBs) subscribed their portion 65.14 times, non-institutional investors subscribed their reserved portion 73.25 times and retail individual investors (RIIs) subscribed it for 16.78 times. Meanwhile, in the grey market, RailTel Corporation of India’s shares were seen trading with a Rs 14 premium over the issue price and the shares were commanding a 15 per cent grey market premium at Rs 108 apiece. Also Read - Entertainment on Wheels: Railways Set to Introduce On-Demand Movies, Videos, News in Different Languages on Trains. Deets Inside
Reacting to the enormous subscriptions, RailTel’s Chairperson and Managing Director Puneet Chawla said, “It is heartening to see the overwhelming response from investors across all categories.” RailTel received 23,79,717 applications for shares, which can be said to be the second best for a Railway IPO since IRFC’s 25,51,325. Also Read - RailTel Share Price Gains 20% on BSE Upper Circuit After February Super Session
Earlier in December 2018, the Union cabinet had approved the IPO of RailTel Corporation of India by diluting up to 25 per cent of the government’s stake.
Hence, as the RailTel IPO Allotment Status is scheduled to be announced tomorrow, all investors can check their allotment status of applied shares on RailTel through BSE website (https://www.bseindia.com/investors/appli_check.aspx) and also via registrar’s website KFin Technologies Private Limited. KFin Technologies Private Limited is a Sebi registered entity responsible for IPO allotment and refund processing.
Here’s a step by step guide to check RailTel IPO Allotment Status:
Process for checking status through KFin Technologies Private Limited’s website:
*Firstly, one needs to visit the link – https://ris.kfintech.com/ipostatus/ or one can also visit their home page and click IPO status.
*Next, select the IPO and enter either the application number or DPID/Client ID or PAN details.
* Enter the application number in the case of the application number box. In case of the selection of DPID/Client ID box, choose the depository from the drop-down menu, enter DPIP, Client ID.
* Enter the permanent account number details in case of selection of PAN.
* And in the last step, one needs to full the given captcha code and after inputting the correct captcha, click submit.
Process for checking status through BSE website:
*Visit BSE website by clicking on this link – https://www.bseindia.com/investors/appli_check.aspx
* Next, choose the issue type as equity and the issue name as RailTel Corporation of India from the drop-down list menu, when the IPO allotment gets declared.
* Enter the application number and PAN. Lastly, click on the search tab for details.