Govt to sell up to 15% stake in Rail Vikas Nigam through OFS on Wednesday

The government will sell up to 15 cent stake in Rail Vikas NIgam through an offer for sale (OFS) on Wednesday. The offer to sell the government’s 10 per cent stake would open for institutional investors, with a green shoe option to sell an additional 5 per cent stake in the public sector undertaking.

 

The offer will open for retail investors on Thursday. The floor price for the sale has been fixed at Rs 27.50/ share.

 

The shares of the company closed at Rs 30.40 a piece on Tuesday. Sale of 15 per cent stake would fetch the government about Rs 860 crore.