Rail Vikas Nigam lists flat

The stock of newly state-owned firm listed at its issue price of Rs. 19 per share. In the morning session, the company traded at a market capitalisation of Rs. 3,982.39 crore on Thursday.

Rail Vikas Nigam's initial public offer (IPO) was available at the price band of Rs. 17 to Rs. 19 per share of face value Rs. 10. The IPO was open for subscription from March 29 and April 3, 2019. The offer was subscribed 1.83 times. Of the Rs. 482 crore IPO, 35 per cent was offered to the retail investors.

Rail Vikas Nigam Limited (RVNL) is a miniratna Central Public Sector Enterprise (CPSE) established in 2003. The company provides the services of a financial executing agency for the Ministry of Railways (MoR).

As of 11:00 hours, the stock of Rail Vikas Nigam Limited (RVNL) was quoting Rs. 19.35 per share, up by 1.84 per cent. The stock opened for trade or listed at Rs. 19.00 and hit an intraday high of Rs. 19.45 and a low of Rs. 18.60 per share on BSE. The stock is placed in an upper circuit limit of 20 per cent.