The RailTel Corporation IPO share allocation has been finalized. KFin Technologies (KFintech) was hired to manage the share allocation and refunds. Investors can check on the KFintech IPO allotment status portal to see if their application for RailTel stock was successful and how many shares they got.
RailTel is a leading ICT infrastructure provider in India. Its clients include India’s central and state government agencies. The top three customers account for about one-quarter of RailTel’s revenue.
RailTel IPO massively oversubscribed
The government sold a 27 percent stake in the RailTel IPO. It will still be the largest shareholder in the company. The government sought to raise 8,190 million rupees from the RailTel stake sale.
The company generates 66 percent of its revenue from its telecom business. Railways and other operations contribute the remaining 34 percent. The coronavirus pandemic had a limited negative impact on RailTel’s telecom business. Both retail and institutional investors showed strong interest in its shares. As a result, the IPO was oversubscribed by more than 40x. Many oversubscribed IPOs ended up being major hits.
RailTel is a reliable dividend source with a strong balance sheet.
RailTel’s track record of consistent dividends and a debt-free balance sheet might explain why investors jostled for its IPO shares. The company indicated a price range of 93–94 rupees per share for the public listing. Eventually, it sold the shares at the high end of the price range. RailTel stock will debut on the public market on Feb. 26.
How to check the KFintech IPO allotment status for RailTel
RailTel shares would be a great investment for investors seeking dividend income. The window for investors to subscribe to RailTel IPO shares opened on Feb. 16 and closed on Feb. 18.
If you subscribed for RailTel shares, you can find out the results of your application. Below are the steps for checking the KFintech IPO allotment status for RailTel.
- Select the IPO allotment status that you want to check.
- Choose one of the three identity options—Application Number, DPID/Client ID, or PAN.
- Select the Application type. If you chose the Application Number in step 2, you can select ASBA or NON-ASBA and then enter the application number. If you chose DPID/Client ID, select NSDL or CDSL and enter the DPID and Client ID. If you selected PAN, enter the PAN number.
- Enter the six-digit Captcha.
- Click "Submit" to generate your IPO allotment status report.
Besides KFintech, RailTel IPO subscribers can also check their allotment status on the BSE website. Here’s how to go about it:
- Select "Equity" under Issue type.
- Under "Issue name," pick a company from the dropdown list—in this case, RailTel.
- Enter the Application number.
- Enter the PAN number.
- Click the "Search" button to generate the results.
Considering the huge interest in RailTel IPO shares, it’s possible that some investors missed out or received fewer shares than they ordered. If the KFintech IPO allotment status check shows that you didn’t receive any shares or your subscription was partially filled, KFintech will send a refund to your bank account.