OFS of RVNL subscribed 2.73 times on Day 1

PTI

Updated At : 12:45 PM Jul 28, 2023 IST

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New Delhi, July 27

The government’s 5.36% stake sale in Rail Vikas Nigam Ltd (RVNL) on Thursday got an enthusiastic response from institutional investors, who subscribed the issue 2.73 times by putting in bids of over Rs 2,000 crore. In the two-day offer-for-sale (OFS), the government is selling 11.17 crore shares, representing a 5.36% stake at a floor price of Rs 119 apiece. It includes a greenshoe option of an additional 4.08 crore shares in RVNL.

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