Rail Vikas Nigam Limited OFS
About Rail Vikas Nigam Ltd (RVNL):
Rail Vikas Nigam Limited (RVNL) was incorporated in New Delhi as a public limited company on 24 January 2003. The Company was issued its Certificate of Commencement of Business on 18 February 2003. The Company has been conferred the status of ‘Schedule A - Public Sector Enterprise'. Further, the company has the status of `Category-I Miniratna Company'. The Company is a wholly-owned government company as a project executing agency working for and on behalf of the Ministry of Railways (MoR). It 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. As part of the mandate of RVNL to undertake project development, mobilization of financial resources and to implement projects pertaining to strengthening of Golden Quadrilateral and better connectivity to various ports, six Special Purpose Vehicles (SPVs) as Joint Ventures (JVs) have been created.
All About OFS
- The central government is all set to sell its 15% stake in Rail Vikas Nigam Ltd via an offer for sale to raise around Rs 800 crore. The issue opened on Wednesday (March 24, 2021) for non-retail investors, and on Thursday (March 25,2021) for retail investors, the company informed in a regulatory filing on Tuesday. The RVNL OFS shall take place on a separate window of the stock exchanges on March 24, and March 25 from 9:15 a.m. to 3:30 p.m
- The initial plan would be to sell 10% of the total equity or 20.85 crore shares, according to latest exchange filing. The government will have a greenshoe option to sell another 5% of the total equity or 10.4 crore shares.
- As of December, the government held an 87.84% stake in the company, which on full 15% stake sale will fall to 72.84%.
- In a revised notice, the company stated that there would be Offer for sale of equity shares of face value of Rs 10 each of Rail Vikas Nigam Limited (RVNL) by its promoter, the President of India, acting through Ministry of Railways, Government of India, through stock exchange mechanism.
- Rail Vikas Nigam Limited (RVNL) share price fell over 8% intraday on March 24 as the government said it will sell 20,85,02,010 equity shares (or 10 percent of total paid-up equity) of Rail Vikas Nigam via offer for sale route on March 24-25.
- In case of oversubscription, the government will sell additional 10,42,51,005 equity shares (or 5 percent shareholding) in the company. The floor price for the offer has been fixed at Rs 27.50 per share.
How to Apply for RVNL OFS from 5paisa?
- Login to 5paisa
- go to invest.5paisa.com/ofs
- Enter the quantity and bid amount
- Click on Place order
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