RailTel defies market selloff, lists at 16% premium over issue price

NEW DELHI: RailTel Corporation of India on Friday made a decent market debut, as the scrip got listed at Rs 109 on NSE, a 15.96 per cent premium over its issue price of Rs 94. The scrip debuted at Rs 104.60 on BSE, up 11.28 per cent. The debutant rose despite a selloff in the broader market.

RailTel’s IPO, which was open for subscription from February 16 to February 18, saw qualified institutional buyers (QIBs) subscribing 65.14 times the quota limit. Non-institutional investors bade 73.25 times, while retail individual investors (RIIs) bade 16.78 times the quota limit.