“The IPO of Rail Vikas Nigam Ltd (RVNL) was subscribed 1.78 times as of 5:15 pm today, the last day of the issue. The ₹481-crore RVNL IPO opened for subscription on Friday. The state-owned company offered 25.34 crore shares at a price band of ₹17-19 per equity share. RVNL will be the third rail PSU to be listed after RITES and IRCON. RVNL will not receive any proceeds from the offer for sale since the government is selling about 12% stake in the company. After the IPO, the central government’s stake in RVNL will drop around 88%,” reported Mint.

DSK Legal advised Rail Vikas Nigam Limited led by a team of partner Ajay Shaw, partner Niraj Kumar, principal associate Himani Sharma, senior associate Akanksha Tiwary and associate Pranav Sarthi.

Verist Law acted as legal counsel to the BRLMs, led by founding partner Srishti Ojha.

Riker Danzig Scherer Hyland & Perretti LLP acted as international legal counsel for Rail Vikas Nigam Limited.

2019-04-03

Deal value: INR 481 crores

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