Rail Vikas Nigam IPO subscribed 1.83 times, retail portion 3x

The initial public offering of Rail Vikas Nigam has subscribed 1.83 times on April 3, the last day for subscription.

The public issue has received bids for 46.33 crore equity shares against offer size of 25.34 crore shares (excluding anchor investors’ portion), as per data available on the exchanges at 18:00 hours IST.

The qualified institutional buyers portion has oversubscribed by 1.36 times while non-institutional investors part subscribed 80 percent and retail investors part oversubscribed by 2.93 times.

The company launched its initial public offering for subscription on March 29 at a price band of Rs 17-19 per share.

It is a wholly-owned government company, a Miniratna central public sector enterprise, incorporated by the Ministry of Railways.

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

ICI reports offer insights into the characteristics of IRA investors

Posted by Jon Vogler, Senior Analyst, Retirement Research on Oct 5, 2018,…

New tax reform bill includes retirement provisions

Posted by Jon Vogler, Senior Analyst, Retirement Research on Sep 20, 2018,…

What may LIBOR’s phase-out mean for investors?

Posted by Justin Mandeville, Portfolio Manager and Jacob Habibi, Senior Analyst on…

Opinion | The Secret Lives of Central Bankers

A few years ago, a senior Japanese central banker let me in…