Rail Vikas Nigam IPO – Issue Dates, Issue Price, Market Lot, Prospectus

Rail Vikas Nigam Limited IPO

Rail Vikas Nigam Limited, a Government of India Enterprise, is issuing the IPO (Initial Public Offering) for public subscription in March 2019. The company aims to raise the capital with the issue of equity shares worth Rs 481.57 crore. The Rail Vikas Nigam IPO opens on 29th March 2019 and closes on 3rd April 2019. Equity shares of face value Rs 10 are being issued at a price of Rs 19 where some retail and employee discounts are also given. The discounted price of shares is up to Rs 17 per equity share. These shares will be issued in a market lot of 780 shares and there will be a minimum order quantity is one lot. The allotted shares will be listed on BSE and NSE for further trading.

Company Details

Rail Vikas Nigam Limited (RVNL) is a Miniratna (Category-1) company which is wholly owned by the Government of India. It is a Central Public Sector Enterprise (CPSE) incorporated by the Ministry of Railways in the year 2003. RVNL is the project execution agency which works for and on behalf of the Ministry of Railways. The objectives of incorporation of this company are to undertake rail project development, mobilization of financial resource and implementation of rail projects. 

RVNL is engaged in the business of executing railway’s projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings etc. Since their inception in the year, 2003 Ministry of Railways has transferred 179 projects to them out of which 174 projects for execution and 72 are fully completed. The completed projects are totalled at Rs 205,672.80 million. 

The company is promoted by the President of India, acting through the Ministry of Railways, Government of India. 

Rail Vikas Nigam IPO – Issue Details
Issue Type Book Built Issue of IPO
Issue Opens 29th March 2019
Issue Closes 3rd April 2019
Face Value Rs 10 Per Equity Share
Issue Price  Rs 17-19 Per Equity Share
Issue Size 253,457,280 Equity Shares (Rs 481.57 crore)
Market Lot 780 Equity Shares
Minimum Order 780 Equity Shares
Listing BSE, NSE
Rail Vikas Nigam IPO – Objects of the Issue

The following are the objects of RVNL IPO Issue:-

  1. To carry out the disinvestment of 252,800,000 equity shares held by the selling shareholder in the company.
  2. To achieve the benefits of listing the equity shares on the stock exchanges.
Rail Vikas Nigam IPO – Company Contact Details

Registered and Corporate Address:- Rail Vikas Nigam Limited, 1st Floor, August Kranti Bhavan, Bhikaji Cama Place, New Delhi – 110060

Telephone: +91-11-26738299

Website: www.rvnl.org

Rail Vikas Nigam IPO – Lead Manager to the Issue

Following are the lead managers to RVNL IPO Issue:-

  1. Yes Securities (India) Limited
  2. Elantra Capital (India) Limited
  3. IDBI Capital Markets & Securities Limited
Rail Vikas Nigam IPO – Registrar to the Issue

Registrar to RVNL IPO Issue is Alankrit Assignments Limited.

Rail Vikas Nigam IPO – Issue Prospectus

Click here to read the Red Herring Prospectus of RVNL IPO Issue.

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Disclaimer: This post is just information about the issue. It does not give any advice or recommendation. Investments into securities are subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions. 

Tags: #IPO #Stock Market #Rail Vikas Nigam IPO #RVNL IPO #investments

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