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Rail Vikas Nigam shares decline 9% as govt begins stake sale via OFS

The floor price has been fixed at Rs 27.50 a share, a 9.54 per cent discount to Tuesday's closing price of Rs 30.40 apiece on the BSE

Infrastructure, railways, tracks, disinvestment, privatisation
premium

The company, a wholly-owned government company, is a project executing agency working for and on behalf of the Ministry of Railways

SI Reporter Mumbai
Shares of Rail Vikas Nigam Limited (RVNL) plunged 9 per cent to Rs 27.80 on the BSE in the intra-day trade on Wednesday as the government's two days stake sale through offer for sale (OFS) began today. The floor price has been fixed at Rs 27.50 a share, a 9.54 per cent discount to Tuesday's closing price of Rs 30.40 apiece on the BSE.

The government on Tuesday said it will dilute 15 per cent stake in Rail Vikas Nigam Ltd via an offer for sale to raise nearly Rs 750 crore. The issue opened on Wednesday for non-retail