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RVNL offer for sale to open on March 24 for non-retail investors

Our Burea New Delhi | Updated on March 23, 2021

Government to divest 10 per cent equity with a Green Shoe option at a floor price of ₹27.50 a share

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.)

Published on March 23, 2021

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