The issue will open on Wednesday for non-retail investors, and on Thursday for retail investors.
“Offer for Sale in RVNL opens tomorrow for Non Retail investors. Retail investors can bid on Thursday. Govt. would divest 10% equity with a 5% Green Shoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet.
The floor price has been fixed at Rs 27.50 a share, a 9.54 per cent discount to Tuesday’s closing price of Rs 30.40 apiece on the BSE.
RVNL was incorporated as a 100 per cent owned PSU of the Ministry of Railways on January 2003 with the objectives of raising extra-budgetary resources and implementation of projects relating to creation and augmentation of capacity of rail infrastructure on fast track basis.