INSUBCONTINENT EXCLUSIVE:
Rail Vikas Nigam shares opened on a flat note in stock market debut.Rail Vikas Nigam shares made a tepid market debut on the Bombay Stock
Exchange (BSE) and National Stock Exchange (NSE)
The stock opened flat on the National Stock Exchange and rose as much as 4.21 per cent to Rs 19.80 from its issue price of Rs 19
On the BSE, Rail Vikas Nigam shares rose as much as 3.94 per cent to touch intraday high of Rs 19.75
Rail Vikas Nigam Limited (RVNL), a government of India enterprise under the Ministry of Railways, sold shares of face value of Rs 10 in the
price band of Rs 17-19 in Initial Public Offering (IPO) from March 29-April 3.Rail Vikas Nigam saw high demand for its shares in the Initial
Public Offering as the issue was subscribed 1.8 times the 25.35 crore shares on offer on the last day of subscription.Rail Vikas Nigam
raised Rs 482 crore by way of selling shares in the Initial Public Offering
In the process of share sale, the government of India disinvested its 12.12 per cent equity stake in the company.Rail Vikas Nigam Limited's
total order book which includes laying new railway lines, doubling of tracks, gauge conversion, railway electrification, metropolitan
transport projects, building workshops and bridge construction works as of December 31, 2018 stood at Rs
77,504.28 crore.RVNL works on a turnkey basis and undertake the full cycle of project development from conceptualization to commissioning
and its major client is the Indian Railways
The other clients of the company include various central and state government ministries, departments, and public sector undertakingsAs of
12:24 pm, Rail Vikas Nigam shares traded 3.16 per cent higher at Rs 19.60.Get the latest election news, live updates and election schedule
for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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