Rail Vikas Nigam Ltd's (RVNL) Offer For Sale will open on Wednesday (March 24) for non-retail investors. Retail investors can bid on Thursday. The Government would divest 10 per cent equity with a Green Shoe option, tweeted Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM).
The floor price is ₹27.50 a share, the company said in a BSE statement.
On offer will be 20.85 crore equity shares, representing 10 per cent of the total paid up equity share capital of the company (the "Base Offer Size").
Also, an additional 10.42 crore equity shares, representing 5 per cent of the total paid up equity share capital of the company will be on offer (an option to be exercised in case of oversubscription.)
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.