RailTel Share Price Gains 20% on BSE Upper Circuit After February Super Session

New Delhi: RailTel Corporation of India Ltd, which closed its subscription on February 23, opened on a strong note of Rs 139.6 apiece again on Monday, compared with the initial public offering price of Rs 94 on BSE. In the opening bell today, the scrip opened at Rs 129.80 and went up as high as Rs 145.65, marking a 20% surge. Also Read – Heranba Industries IPO: Here’s How you Can Invest, Check Price Band of this Gujarat Agro-Chemical Company

On Friday, the telecom infrastructure provider made a strong debut with its shares zooming over 29 per cent on closing when compared with the issue price. Also Read – RailTel IPO Allotment Status to be Finalised Today, Here’s How You Can Check Share Allotment Status

With RailTel, the BSE Group ‘B’ stock of face value Rs 10 touched a 52-week high of Rs. 145.65 today. The last such hike was Rs 142.60 and the low was 104.60. Also Read – RailTel IPO Allotment Announcement Tomorrow: Here’s How You Can Check Subscription Status Via BSE, Registrar’s Website

At the NSE, the stock had debuted at Rs 109 on Friday, up 15.95 per cent over the issue price and closed the counter at Rs 120.6, rising 10.64 per cent over the opening price and 28.29 per cent over the issue price. Intra-day, it touched a high of Rs 127.85.

The initial public offer of RailTel Corporation of India Limited was subscribed 42.39 times on the final day of subscription in February.

The Rs 819.24-crore offer received bids for 2,59,42,43,370 shares against 6,11,95,923 shares on offer, as per data available with the NSE.

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. The maiden public issue of the technology infrastructure provider floated between February 16-18, 2021.

RailTel uses the latest technology like high dense wavelength division multiplexing (DWDM) and multi-protocol label switching (MPLS) network. The company has data centres in Haryana, Gurugram, Secunderabad, and Telangana.