The Hindu Business Line
Rail Vikas IPO subscribed 1.8 times
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.