railways organization, the Rail Vikas Nigam Limited (RVNL), is emerging the share
market this week with its IPO (Initial public offering) to raise about Rs480-Crorem
which will open on Friday, March 29 and to close on 3rd April. The price band fixed
for the issue is Rs17 to 19 apiece with a minimum bid of 780 equity shares. The
offer consists of 253,457,280 equity shares of face value Rs10 each through a
100% book building process.
IPO offer includes a reservation of 6,57,280 equity shares for entitled
employees for allocation on a proportionate basis.
Vikas Nigam Ltd is a project executing agency for the Ministry of Railways. The
company carries out rail development projects with a key role as a financial
resource organizer and forms project-specific SPVs with private players.
Capital India Pvt Ltd, Yes Securities Ltd, and IDBI Capital Markets & Sec.
Ltd are the book running lead managers to the offer.