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Rail Vikas Nigam's Rs 477-crore IPO subscribed 8% on first day of bidding

At the top end, Rail Vikas will be valued at Rs 3,962 crore

BS Reporter  |  Mumbai 

IPO

The Rs 477-crore of was subscribed 8 per cent on Friday, the first day of the issue. The closes on Wednesday. Through the IPO, the Centre is selling 253 million shares, constituting 12.2 per cent stake. The price band of the is Rs 17-19.
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Retail investors are being offered a discount of Rs 0.5. At the top end, Rail Vikas will be valued at Rs 3,962 crore. Rail Vikas works as a project executing agency on behalf of the Ministry of Railways.
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First Published: Sat, March 30 2019. 02:25 IST
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