Rama Telecom IPO Day 2 Update: Issue Subscribed 11.87×; Retail and NII Bids Surge

Authored By Ankur Chandra | Last Modified: Jan 28, 2026 04:47 PM IST

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Kolkata | June 26, 2025 — The SME IPO of Rama Telecom Limited continued to witness robust investor interest on Day 2, with the issue subscribed 11.87 times by the end of June 26. The public offer, which opened on June 25, has received total bids for 4.38 crore shares against the issue size of 36.96 lakh shares.

The IPO will close for subscription on June 27, 2025, and is being offered in the price band of ₹65–₹68 per share on the NSE Emerge platform.

IPO Snapshot

Detail	Info
Issue Opens	June 25, 2025
Issue Closes	June 27, 2025
Price Band	₹65 – ₹68
Lot Size	2,000 shares
Issue Size	₹25.13 Cr (at upper band)
Fresh Issue	36,96,000 equity shares
Listing Exchange	NSE Emerge
Allotment Date (Tentative)	July 1, 2025
Listing Date (Tentative)	July 3, 2025

Day 2 Subscription Status (June 26, 2025 | 5:00 PM)

Category	Applications	Shares Bid For	Subscription
Qualified Institutional Buyers (QIBs)	1	7,36,000	1.00×
Non-Institutional Investors (NIIs)	49	9,28,000	1.19×
Retail Individual Investors (RIIs)	1,089	21,78,000	2.49×
Total (NSE Bids)	1,139	38,42,000	1.04×
Total Bids (Book level)	—	4,38,71,840	11.87×

Cut-off bids: 1.46 crore shares

Strongest demand seen at ₹65–₹68 range, with 38.24–38.42 lakh shares bid per price point

Key Observations

Retail participation surged, with over 1,000 applications and subscription at 2.49×.
Non-Institutional Investors (NIIs) also increased bids, reaching 1.19× subscription.
The QIB quota remained unchanged at 1.00×, filled entirely by a single FII.

About Rama Telecom

Established in 2004, Rama Telecom Limited is a telecom infrastructure provider, offering services such as optical fiber laying, ducting, and networking for large clients like Indian Railways and telecom operators. It operates across multiple Indian states with an asset-light model.

What’s Ahead?

The IPO remains open for one more day, with allotment expected on July 1, 2025, and listing likely on July 3, 2025.

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