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All you Need to know about Rail Vikas Nigam Limited OFS

All you Need to know about Rail Vikas Nigam Limited OFS


Category : Knowledge Center

Here is what the news about RVNL's offer for sale (OFS):

  • RVNL (Rail Vikas Nigam Ltd) is a government-owned company responsible for railway project implementation and infrastructure development.

  • The government wants to sell a part of its stake in RVNL to raise funds. They plan to sell up to 5.36 percent of the company's shares, which could result in around Rs 1,330 crore in revenue.

  • As a result of this announcement, the stock price of RVNL dropped by almost 7% in morning trade on July 27.

  • The OFS is being offered at a price of Rs 119 per share, which is more than an 11 percent discount to the closing price on July 26 (Rs 134.40).

  • The offering will be open to both retail and non-retail investors on different dates (July 27 for non-retail and July 28 for retail).

  • The government plans to sell around 11.17 crore shares of RVNL through this offer for sale.

  • RVNL recently won a contract worth Rs 808 crore for the rehabilitation and upgrade of a highway section in Odisha.




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