Rail Vikas Nigam IPO gets fully subscribed on Day 4

The Rs 482 crore initial public offering (IPO) of the company was opened last week. The price band has been fixed at Rs 17 - Rs 19 per share.

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In March last year the ADB and the Indian Railways signed a loan agreement for availing the third tranche of $120 min in a multi tranche financing facility of $500 mn

SI Reporter New Delhi

2 min read Last Updated : Apr 03 2019 | 4:30 PM IST

The initial public offering (IPO) of state-run Rail Vikas Nigam (RVNL) got fully subscribed on the last day of the offer.

Till 03:00 pm, the issue was subscribed 1.17 times. Total bids received stood at 29,71,58,160 shares against the total issue size of 25,34,57,280, NSE data showed.

The Rs 482 crore initial public offering (IPO) of the company was opened last week. The price band has been fixed at Rs 17 - Rs 19 per share.

The issue is entirely an offer for sale (OFS) of 25.35 crore shares (12.2 per cent of post-dilution equity) by Government of India. Of