The Hindu Business Line

Rail Vikas IPO subscribed 1.8 times

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State-owned Rail Vikas Nigam’s initial public offering to raise ₹482 crore ($70.45 million) was fully subscribed at the end of the bookrunnin­g process, stock exchange data showed on Wednesday. Investors bid for about 46.33 crore shares, or 1.83 times of the 25.34 crore shares on offer. The share-sale comes amid IPOs by state-run firms such as e-auctioning company MSTC, which extended the sale by three days and cut the lower end of the price band to attract more investors. The IPO is through a share-sale by the Centre in a price band of ₹17-19 apiece.

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