Govt to sell 15% stake in Rail Vikas Nigam Ltd via OFS

Current GK ( Master) Financial System

The government on 24th March said it will dilute 15 per cent stake in Rail Vikas Nigam Ltd via an offer for sale to raise nearly Rs 750 crore. Govt. would divest 10% equity with a 5% Green Shoe option.
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.