The initial public offer (IPO) of RailTel Corporation of India (RailTel) has opened for subscription on Tuesday with a price band of Rs 93-94 per share. The issue will close on February 18, 2021.

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The shares are expected to get listed on February 26.

Brokerages such as Groww offer the option of investing in it through their platforms.

Here are the steps to invest in RailTel IPO via Groww website/app:

Step 1:

Visit Groww IPO Page. If you are using the Groww app, then go to the stocks tab and scroll down to see the list of live IPOs. Select RailTel IPO.

Step 2: As you click on RailTel IPO you will be able to view important details such as issue size, price, etc on the IPO Card. You can also read the 'Red Herring Prospectus' for detailed information about the objects of the offer, promoters, etc. Click on ‘Apply’ to proceed.

Step 3: In the order card, you will be able to see the pre-filled field for the minimum number of shares, which is 155 shares in this case. Enter the number of shares you want to buy. Click on ‘Continue’ to proceed.

Step 4: Enter UPI ID, verify bids and click on ‘Submit Bid‘.

Step 5: A request will be sent to your UPI app. Approve the mandate to confirm the order. Upon confirming, the highest bid amount will be blocked in your account and cannot be used for withdrawal. This amount will get unblocked in case you do not receive an allotment.

First Published:Feb 16, 2021 1:25 PM IST