The government has planned to sell up to 5.36% of its stake in Rail Vikas Nigam (RVNL) via the offer for sale route. This includes the green shoe option of selling a 1.96% stake. Offer for Sale in RVNL opened on July 27, 2023 for non-retail investors, while retail investors can bid on Friday, July 28, 2023.
The proposed Offer for Sale (OFS) comprises a base offer size of up to 70,890,683 equity shares of RVNL, representing 3.40 per cent with an option to additionally sell 40,866,394 equity shares, representing 1.96 per cent of the total issued and paid-up equity share capital. In all, 11.17 crore shares will be offered, which would garner Rs 1,329.90 crore at the floor price fixed at Rs 119 per share.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
