Street signs: Railtel GMP at 30%, Bitcoin mirrors equity, and more

Railtel GMP at 30%

Shares of state-owned Railtel Corporation of India are changing hands at a premium of over 30 per cent to its IPO price in the grey market, said people in the know. While the IPO price band is Rs 93-94 per share, grey market operators are offering over Rs 122 per share. Railtel’s Rs 820-crore IPO opens on Tuesday. The offering is entirely an offer for sale by the government. At the IPO price, Railtel will have a market cap of Rs 3,000 crore. In FY20, the company had clocked net profit of Rs 140 crore on revenues