Govt to sell 15% stake in Rail Vikas Nigam Ltd via OFS ...Middle East

Business Standard - Economy
Govt to sell 15% stake in Rail Vikas Nigam Ltd via OFS
source : Business Standard ( Middle East ) () 5
The government on Tuesday said it will dilute 15 per cent stake in Rail Vikas Nigam Ltd via an offer for sale to raise nearly Rs 750 crore. The issue will open on Wednesday for non-retail investors, and on Thursday for retail investors. "Offer for Sale in RVNL opens tomorrow for Non Retail investors. Retail investors can bid on Thursday. Govt. would divest 10% equity with a 5% Green Shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet. The floor price has been fixed at Rs 27.50 a share, a 9.54 per cent discount to Tuesday's closing price of Rs 30.40 apiece on the BSE. RVNL was incorporated as a 100 per cent owned PSU of the M

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