Thursday, July 27, 2023

The government will dispose 5.4% of its stake in RVNL through an offer for sale


The public authority is selling up to 5. 4% in Rail Vikas Nigam (RVNL) through a proposal available to be purchased (OFS) that would begin on Thursday and close on Friday. Going by Wednesday's end cost of the stock, the public authority could prepare about Rs 1,500-crore from RVNL OFS. The floor cost for the deal is Rs 119, which is a 11% markdown to RVNL's end cost of Rs 134 on the BSE on Wednesday.

As indicated by an organization revelation, the public authority is proposing to sell almost 7. 1 crore shares (3. 4%) of RVNL at the floor cost. In the event of oversubscription, it additionally has the choice to sell another 4. 1 crore shares (2%) of the organization under the green shoe choice.

The retail a piece of the deal will be open on Friday while non-retail financial backers, including institutional ones, are permitted to offer on Thursday and Friday, and 10% of the proposition is saved for the retail class. IDBI Capital Business sectors and Protections, and Elara Protections (lndia) are the specialists to the deal.

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