RailTel Corporation of India finds itself placed among the largest neutral telecom infrastructure providers in the company.
The assets of the company include a pan-India optic fiber network on exclusive right of way (ROW) along railway tracks. This optical fiber network (OFC) covers all important towns and cities of the country and several rural areas, claims the company on its website.
Earlier, the entity raised around Rs 819 crore through public issue. This was subscribed 42.4 times.
AVP Research at Mehta Equities told MoneyControl, Prashanth Tapse, said "We believe RailTel Corporation issue gives investors an opportunity to hold Mini Ratna (Cat-I) which has monopolistic business opportunity and a key partner to the Indian Railways in digital transformation. Looking at the strong subscription demand one can expect a decent listing gain with 20-25 percent listing premium on allotment price of Rs 94."
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In the grey market, the stock was at a premium of Rs 10-17 over and above the issue price of Rs 94.
All in all the Indian capital markets are on a roll with the tomorrow’s listing to be the seventh IPO listing. The earlier were Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft, Brookfield India REIT, and Nureca.