Rail Vikas Nigam (RVNL) is coming out with an initial public offering (IPO) to raise up to Rs 481 crore in a price band Rs 17-19 per equity share. The issue will open on March 29, 2019 and will close on April 03, 2019. The company’s shares are proposed to be listed on the BSE and NSE.
The IPO comprises of upto 25,34,57,280 equity shares of the company through an offer for sale by the President of India, acting through the Ministry of Railways, Government of India. Yes Securities, Elara Capital (India) and IDBI Capital Markets & Securities are the book-running lead managers to the issue.
Rail Vikas Nigam (RVNL), is a Special Purpose Vehicle created to undertake project development, mobilization of financial resources and implement projects pertaining to strengthening of Golden Quadrilateral and Port Connectivity.
