RailTel IPO allotment date: Investors keeping fingers crossed - will they get or won't they?
RailTel IPO allotment date: RailTel IPO subscription 42.39 times. The RailTel IPO was subscribed 16.78 times in the retail category, 65.14 times in QIB, and 73.25 times in the NII category by Feb 18, 2021 5 pm. RailTel Corporation IPO shares are likely to be listed on the BSE and NSE on February 26. RailTel Corporation will finalise the share allotment of its Rs 819 cr IPO today.
RailTel IPO allotment date: RailTel IPO subscription 42.39 times. The RailTel IPO was subscribed 16.78 times in the retail category, 65.14 times in QIB, and 73.25 times in the NII category by Feb 18, 2021 5 pm. RailTel Corporation IPO shares are likely to be listed on the BSE and NSE on February 26. RailTel Corporation will finalise the share allotment of its Rs 819 cr IPO today, as per the schedule published in the prospectus and all investors who have put their money into issue must be keeping their fingers crossed in the hope of getting lucky.
Objectives of the RailTel IPO Offer:
The net proceeds from the IPO will be used towards following purposes:
1) To carry out the disinvestment plan
2) To achieve the benefits of equity share listing on the stock exchanges
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Incorporated in 2000, RailTel Corporation is a public sector business unit, wholly owned by the Government of India (GOI) and administered by the Ministry of Railways. It is an Information and Communication Technology (ICT) infrastructure provider company. The company was established with the key objective to modernize telecom infrastructure and today, it is one of the largest telecom infrastructure providers. RailTel uses the latest technology like high dense wavelength division multiplexing (DWDM) and multi-protocol label switching (MPLS) network. The company has data centers in Haryana, Gurugram, Secunderabad, and Telangana.
Diversified portfolio of services and solutions of RailTel:
RailTel offer a diversified portfolio of ICT services and solutions including MPLS-VPN, leased lines services, TPaaS, e-Office services and data center services, large network hardware system integration, software and digital services. In addition to laying an optical fiber cable network, their transport network is built on high capacity DWDM and an IP/ MPLS network over it to support communication requirements of the Indian Railways and other key customers. As of December 31, 2020, they had connected 5,034 MPLS-VPN ports and 895 Internet bandwidth ports for their customers.
RailTel is Key partner to the Indian Railways in digital transformation:
They provide a variety of services to the Indian Railways and have implemented MPLS data network for integrated payroll and accounting system, unreserved ticketing system, freight operations information system and coaching operations information systems. They are responsible for upgradation of RailNet over a WAN by providing centralized mailing system and security systems through the supply, installation and commissioning of IP-MPLS network at divisions, zones, production units and central training units of the Indian Railways.
RailTel is also working with the Indian Railways to transform railway stations into digital hubs by providing public Wi-Fi at railway stations across India. These projects are expected to have a fixed minimum guarantee and they will work on a recurring revenue share model for providing these services over a 10-year period. VSS is another project being implemented for the Indian Railways. In October 2020, the MoR had assigned them the task of implementation of hospital management information system (“HMIS”) for over 125 health establishments and 650 polyclinics of the Indian Railways. They are awarded mandates by the Indian Railways on a nomination basis, owing to their unique infrastructure along railway tracks, technical capabilities and their longstanding relationship with the organization.
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