Rama Telecom IPO Day 2 Update: Issue Subscribed 11.87×; Retail and NII Bids Surge
By Ankur Chandra | Updated at: Jan 28, 2026 04:47 PM IST
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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