RailTel IPO shares to be allotted today. Here’s how to check status
RailTel Corporation of India will likely finalise the allotment of its initial public offering (IPO) on Wednesday. The ₹819 crore IPO was open from subscription from February 16 to 18. Previously, the date of allotment was scheduled for February 23.
Investors can check their share allotment status through the KFin Technologies website that manages share allotment and refund or through the official website of BSE.
The IPO that got an overwhelming response was oversubscribed 42.39 times. The offer that was approved by the Union cabinet of the public information and communications technology provider attracted a grey market premium of ₹14 over the issue price.
To check via the KFin website:
Investors can go to the link (https://ris.kfintech.com/ipostatus/), select the IPO and inout their application number of DPID>Client ID or permanent account number (PAN) details.
To check the status via BSE website:
Investors can go to the link (https://www.bseindia.com/investors/appli_check.aspx), select the issue type as equity and issue name as RailTel Corporation of India, when the allotment is declared.
Investors then need to input their application number and PAN details to check if they have allotted any shares.
"RailTel derives 66% of its revenues from the telecom segment while the remaining portion is from railways and other projects. RailTel, if performs efficiently, can benefit from the 5G growth in India from a fiberisation needs’ perspective. It could also play a key role in the digital transformation of the railways. Besides, Covid-19 has had a minimal impact on the telecom industry and has in fact triggered growth for certain players due to increased data usage and VPN services for people working from home," Nirali Shah, the head of equity research at Samco Securities, was quoted by Mint as saying.
RailTel, which is scheduled to debut on the bourses on February 26, had ICICI Securities, IDBI Capital Markets and Securities Limited and SBI Capital Markets as the managers of its IPO.
Meanwhile, the share allocation of the Nureca Limited IPO has also been finalised. Investors can check their allotment status on the website of the registrar Link Intime India Private Ltd, which manages the allotment and refund or on the official website of BSE, where the investors can follow the same steps as above by just changing the issue name to Nureca Limited.