DSK, Verist lead on Rail Vikas Nigam ₹481 crore IPO

Bar & Bench April 17 2019
Verist - IPO

The ₹481 crore IPO of Rail Vikas Nigam Ltd (RVNL) was subscribed 1.78 times on the last day of the issue. The state-owned company offered 25.34 crore shares at a price band of₹17-19 per equity share.

RVNL will be the third rail PSU to be listed after RITES and IRCON. RVNL will not receive any proceeds from the offer for sale since the government is selling about 12% stake in the company. After the IPO, the central government's stake in RVNL will drop . . .

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