New Delhi: Rail Vikas Nigam Limited, a Miniratna company under the aegis of Ministry of Railways, will open its initial public offering for subscription on March 29. IPO will close on April 3, 2019. The price band for the public issue has been fixed at Rs 17-19 per share.
A discount equivalent to 50 paise per share on the final offer price will be offered to retail investors and employees, respectively.
The IPO comprises up to 25,34,57,280 equity shares of the company through an offer for sale by the President of India, the release said, adding the offer includes a reservation of 6,57,280 equity shares for eligible employees.
Miniratna PSU Rail Vikas Nigam to launch IPO on March 29
Miniratna PSU will not receive any proceeds coming from IPO and all proceeds will go to the Central Government
