Govt to sell up to 15% stake in Rail Vikas Nigam through OFS on Wednesday

The floor price for the sale has been fixed at Rs 27.50/ share.


Rail Vikas Nigam | Stake sale

stocks, india inc, stock option, markets, trading, investment, stake, psu, disinvestment, selling, employees, workers, shares, company, firms, BSE, exchange, earnings, results, profit, loss, dividend payout, tax

The government will sell up to 15 cent stake in Rail Vikas NIgam through an offer for sale (OFS) on Wednesday. The offer to sell the government’s 10 per cent stake would open for institutional investors, with a green shoe option to sell an additional 5 per cent stake in the public sector undertaking.

The offer will open for retail investors on Thursday. The floor price for the sale has been fixed at Rs 27.50/ share.

The shares of the company closed at Rs 30.40 a piece on Tuesday. Sale of 15 per cent stake would fetch the government about Rs 860 crore.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, March 23 2021. 23:46 IST