Deal Street

April 17, 2019

Rail Vikas Nigam Rs 481 crore IPO led by DSK, Verist


Rail Vikas Nigam Ltd’s (RVNL’s) Rs 481 crore IPO was subscribed 1.78 times on the last day of the issue. 25.34 crore shares were offered by the state-owned company at a price band of17-19 per equity share.

The third rail PSU to be listed after RITES and IRCON is RVNL, which will not receive any proceeds from the offer for sale since the government is selling about 12% stake in the company. The central government’s stake in RVNL will drop around 88 per cent after the IPO, reported Mint.

Acting as domestic legal counsel for Rail Vikas Nigam was DSK Legal team led by Senior Associates Himani Sharma and Akasha Dubey.

Acting for the underwriters (YES Securities, IDBI Capital and Elara Capital) was Verist Law with a team led by Founding Partner Srishti Ojha.

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