RVNL OFS: Retail investors can apply on July 28
The Central Government will sell the shares of Rail Vikas Nigam Limited, a multibagger subsidiary of the Railways, in the market under Offer for Sale. The government is going to sell 5.36 per cent stake in this offer for sale. Non-institutional investors will be able to bid to buy shares on Thursday. While retail investors can bid for the shares on Friday, 28 July. DIPAM has given this information by tweeting. The floor price of the share has been fixed at Rs 119 in this offer for sale.
Tuhin Kanta Pandey, secretary of the Department of Investment and Public Asset Management under the Ministry of Finance, tweeted that the offer for sale of Rail Vikas Nigam Limited (RVNL) will open for non-retail investors tomorrow, Thursday, 27 July. Retail investors can apply in the offer for sale on Friday, 28 July. He told that the government is going to disinvest 5.36 percent stake through this offer for sale, which also includes Green Shoe option of 1.96 percent.
For this offer fall sale of Rail Vikas Nigam Limited, the government has fixed a floor price of Rs 119 per share, which is being offered at 11.35 per cent discount from Wednesday’s closing price.
In this offer fall sale of Rail Vikas Nigam Limited, 70,890,683 shares which is 3.40% stake will be sold. Apart from this, 40,866,394 equity shares, which is 1.96% stake, will be sold separately. Shares equal to 0.5 percent of the total offer can be offered to the employees. Employees can apply for shares up to Rs 5 lakh. One can participate in the offer for sale in a separate window open on the stock exchange from 9.15 am to 3.30 pm.
