RailTel Corporation of India IPO
RailTel Corporation of India Limited (RAILTEL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 26 February 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +21.5% (likely range +11% to +41%), day's high +44.4%, chance of a gain 97%. Actual: +16.0% at the open, +36.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,73,69,237 | 1,13,14,50,400 | 65.1x | |
| NII (HNI) total | 1,29,98,006 | 95,21,18,190 | 73.3x | |
| Retail | 3,03,28,680 | 50,89,97,680 | 16.8x | |
| Employees | 5,00,000 | 16,77,100 | 3.35x | |
| Total | 6,11,95,923 | 2,59,42,43,370 | 42.4x |
Bids on NSE and BSE together, as published by NSE, as of 18 Feb 2021, 05:00 PM. Shares offered exclude the anchor portion. 15% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to RailTel Corporation of India's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Shankara Building ProductsMar 2017 | 51.6x | 90.7x | 15.3x | 41.9x | ₹349 Cr | +20.7% | +38.3% |
| Prataap SnacksSep 2017 | 76.9x | 101x | 8.48x | 47.4x | ₹485 Cr | +35.4% | +40.6% |
| RITESJun 2018 | 71.7x | 195x | 15.7x | 67.2x | ₹799 Cr | +2.7% | +21.4% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| Route MobileSep 2020 | 89.8x | 193x | 12.7x | 73.3x | ₹609 Cr | +104.9% | +110.0% |
| BSEJan 2017 | 48.6x | 159x | 6.48x | 51.2x | ₹1,243 Cr | +34.6% | +48.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| IDBI Capital Markets & Securities | 7 | +19.1% | 43% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the RailTel Corporation of India IPO price band and lot size? ₹93.0–94.0 per share, with a lot of 155 shares, so the smallest retail bid is ₹14,570.
How many times has it been subscribed? 42.4x overall: QIB 65.1x, NII 73.3x, retail 16.8x, employees 3.35x.
How did it list? It opened at ₹109, +16.0% against the issue price of ₹94.0, and closed its first day +29.1%.
