Rail Vikas Nigam (RVNL) has debuted at Rs 19 on the BSE, unchanged from its issue price of Rs 19.
The scrip is currently trading at Rs 19.65, up by 0.55 points or 2.89% from its issue price. It has touched a high and low of Rs 19.75 and Rs 18.60 respectively. So far 88,70,000 shares were traded on the counter.
RVNL initial public offer (IPO) had closed on April 3, 2019 and the price band was Rs 17-19 per share. Retail investors subscribed about 2.5 times the shares reserved for them, while qualified institutional buyers (QIBs) portion was subscribed 1.36 times.
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.
