Rail Vikas Nigam Ltd (Company) a Miniratna (Category – I) Schedule ‘A’ Central Public Sector Enterprise, incorporated by the Ministry of Railways (“MoR”) will be launching its initial public offering (IPO or the Offer) which is scheduled to open on Friday March 29, 2019 and close on Wednesday April 03, 2019. The price band is set at Rs17-19 per equity share of face value of Rs10 each of the Company (the Equity Shares).
A discount equivalent to Rs0.50 per equity share on the offer price shall be offered to Retail Individual Bidders and Eligible Employee Bidders, respectively.
The IPO comprises of up to 25,34,57,280 equity shares of the company through an Offer for Sale by the President of India, acting through the Ministry of Railways, Government of India (the “Selling Shareholder”). The Offer includes a reservation of 657,280 Equity Shares for Eligible Employees for allocation and allotment on a proportionate basis (“Employee Reservation Portion”).
The Offer and the Net Offer shall constitute 12.16% and 12.12% respectively, of the post Offer, paid-up Equity Share capital of the Company.
Yes Securities (India) Limited, Elara Capital (India) Private Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers (BRLMs) to the Offer, while Alankit Assignments Limited is the Registrar to the Offer.
The equity shares of Rail Vikas Nigam are proposed to be listed on BSE Limited and National Stock Exchange of India Limited (NSE).