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.