SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

RINL likely to file DRHP for IPO by Sept-end

13 Sep 2012 Evaluate

The Draft Red Herring Prospectus (DRHP) of Rashtriya Ispat Nigam’s (RINL) much delayed initial public offering (IPO) is expected to be filed by the end of this month. The whole process is expected to be completed before November 15, to retain the ‘Navaratna’ status of the steel maker.

The process will be completed under the management of Steel Ministry with the Department of Disinvestments (DoD). The launch has already been deferred twice and now it is as per the indications from DoD, the DRHP is again planned to be filed by the end of September. RINL will be the first PSU to hit the capital market this fiscal. The government is aiming to garner Rs 2,500 crore by divesting its stake in the company.

Earlier the issue was delayed mainly due a major explosion, which took place during the trial of a new oxygen control unit near the steel melting shop at Vizag Steel Plant (VSP), resulting in the fire and the subsequent deaths on June 13. This made the RINL management to demand the Steel Ministry for the deferment of IPO.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: