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RVNL stake sale: Institutional buyers bid for Rs 1,900cr
Highlights
New Delhi: The government’s 5.36 per cent share sale in Rail Vikas Nigam Ltd (RVNL) was oversubscribed on the first day of issue with institutional...
New Delhi: The government’s 5.36 per cent share sale in Rail Vikas Nigam Ltd (RVNL) was oversubscribed on the first day of issue with institutional buyers putting in bids worth about Rs1,900 crore. In the two-day Offer-for-Sale (OFS), the government is selling 11.17 crore shares, representing 5.36 per cent stake at a floor price of Rs119 apiece.
The offer includes a Greenshoe option of an additional 4.08 crore RVNL shares or 1.96 per cent stake. On the first day of share sale, institutional buyers put in bids for 15.64 crore shares, as against the base issue size of 6.38 crore.
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