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The initial public offering of RailTel Corporation of India has been subscribed 42.42 times on the last day of subscription on Thursday. The ₹819.24-crore offer received bids for 259.42 crore shares as against 6,119 crore shares on offer, as per data available with the exchanges. The qualified institutional buyers portion received bids for 65.29 times while non-institutional investors 73.25 times and retail individual investors by 16.78 times. The public issue was for 8.71 crore shares at a price band of ₹93-94 a share. Ahead of the issue, the company has raised ₹244 crore from 14 anchor investors. Puneet Chawla, Chairman and Managing Director, RailTel Corporation Of India said, “It is heartening to see the overwhelming response from investors across all categories”.
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