Mumbai, Feb 11 (IANS): Central Public Sector Enterprise, RailTel Corporation of India Ltd's initial public offering (IPO) will open on February 16, and end on February 18.

The price band of the offer has been fixed at Rs 93 to Rs 94 per equity share of face value of Rs 10 each.

The anchor investor bidding date has been fixed at February 15.

"The offer will comprise up to 87,153,369 equity shares of face value of Rs 10 each and the offer will be a complete offer for sale by the Government of India. The company will not be directly receiving any proceeds from the offer and all the offer proceeds will be received by the selling shareholder," said a company statement.

The qualified institutional buyers (QIB) portion of the net offer shall be not more than 50 per cent. Further, not less than 35 per cent of the net offer shall be available for allocation to retail individual bidders, while not less than 15 per cent of the net offer shall be available for allocation on a proportionate basis to non-institutional bidders.

ICICI Securities Ltd, IDBI Capital Markets & Securities Ltd and SBI Capital Markets Ltd are the book running lead managers (BRLM) to the offer.