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Rail Vikas Nigam IPO opens today: Why analysts suggest subscribing to it

RVNL, which is a project executing agency working for and behalf on Ministry of Railways, has an order book of Rs 77,500 crore.

Representative Image (Photo: Shutterstock)
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Representative Image (Photo: Shutterstock)

Swati Verma New Delhi
The Rs 482 crore initial public offering (IPO) of state-run Rail Vikas Nigam (RVNL) will open on Friday and close on April 3. 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 the total issue, 0.3 per cent, or 6,57,280 shares, are reserved for the employees of RVNL. Retail investors and employees will be offered a discount of Rs 0.5/share.


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First Published: Mar 29 2019 | 6:06 AM IST

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