Bookbuilding IPO | ₹477 Cr | Listed at BSE, NSE | Fri, Mar 29, 2019 - Wed, Apr 3, 2019
Rail Vikas Nigam IPO is a book build issue of ₹476.86 crores. The issue is entirely an offer for sale of 25.35 crore shares of ₹476.86 crore.
Rail Vikas Nigam IPO bidding started from Mar 29, 2019 and ended on Apr 3, 2019. The allotment for Rail Vikas Nigam IPO was finalized on Apr 8, 2019. The shares got listed on BSE, NSE on Apr 11, 2019.
Rail Vikas Nigam IPO price band is set at ₹19 per share. The lot size for an application is 780. The minimum amount of investment required by an retail is ₹14,820 (780 shares) (based on upper price). The lot size investment for sNII is 14 lots (10,920 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (53,040 shares), amounting to ₹10,07,760.
The issue includes a reservation of up to 6,57,280 shares for employees offered at a discount of ₹0.50 to the issue price.
Elara Capital (India) Pvt.Ltd. is the book running lead manager and Alankit Assignments Ltd. is the registrar of the issue.
Refer to Rail Vikas Nigam IPO RHP for detailed Information.
IPO Open
Fri, Mar 29, 2019
IPO Close
Wed, Apr 3, 2019
Issue Price
₹19 per share
Market Cap (Pre-IPO)
₹3,961.54 Cr
| IPO Date | 29 Mar to 3 Apr, 2019 |
| Listed on | Thu, Apr 11, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹17 to ₹19 |
| Issue Price | ₹19 per share |
| Lot Size | 780 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 0.50 per share |
| Employee Discount | ₹0.50 |
| Total Issue Size | 25,34,57,280 shares (agg. up to ₹477 Cr) |
| Offer for Sale | 25,34,57,280 shares of ₹10 (agg. up to ₹477 Cr) |
| Share Holding Pre Issue | 2,08,50,20,100 shares |
| Share Holding Post Issue | 2,08,50,20,100 shares |
| BSE Script Code / NSE Symbol | 542649 / RVNL |
| ISIN | INE415G01027 |
Rail Vikas Nigam IPO comprises a total issue size of 25,34,57,280 shares. The net offer to the public is 25,28,00,000 shares, after excluding 6,57,280 shares under a preferential allotment. Of the Net offer 12,64,00,000 (50.00%) are allocated to QIB, 3,79,20,000 (15.00%) allocated to NII 8,84,80,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 12,64,00,000 | 50.00% | 49.87% | NA |
| NII (HNI) Shares Offered | 3,79,20,000 | 15.00% | 14.96% | NA |
| Retail Shares Offered | 8,84,80,000 | 35.00% | 34.91% | 1,13,435 |
| Preferential Reservations | ||||
| Employee Shares Offered | 6,57,280 | 0.26% | NA | |
| Total Shares Offered | 25,34,57,280 | 100.00% | 100.00% | |
Investors can bid for a minimum of 780 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 780 | ₹14,820 |
| Retail (Max) | 13 | 10,140 | ₹1,92,660 |
| S-HNI (Min) | 14 | 10,920 | ₹2,07,480 |
| S-HNI (Max) | 67 | 52,260 | ₹9,92,940 |
| B-HNI (Min) | 68 | 53,040 | ₹10,07,760 |
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
Incorporated in 2003 by the Ministry of Railways India (MoR), Rail Vikas Nigam Limited (RVNL) is a project executing agency.
What does RVNL do?
RVNL is engaged in the business of mobilization of financial resources, rail project development, enhance golden quadrilateral and port connectivity by implementing rail projects and raise extra-budgetary resources for Indian Railway project execution. RVNL is involved in a verity of rail projects such as the construction of cable-stayed bridges, major bridges, workshops, metro projects, railway electrification, gauge conversion, new lines, doubling, and institutional buildings.
RVNL Project Summary
MoR has assigned 172 projects to the RVNL till Feb 2019 and out of which 166 projects are executed. As of Dec 2018, an order book size is Rs 77,504.28 Cr. The company also charge an annual consolidated management fee from MoR including execution of 10% for national projects, 9.25% for the metro projects, and 8.50% for other plan heads.
RVNL Clients
Indian Railway is the major client of the company and public sector undertakings, state, and central government departments, ministries are the other clients.
RVNL Financial Summary
The net profit of the company in FY 2015, 2016, 2017 is Rs 3,368.49 million, Rs 4,294.34 million, Rs 4,434.87 million and Rs 2,359.35 million, respectively.
RVNL Competitive Strengths
The competitive strengths of the company are:
1. Consistent financial track record
2. Undergo different categories of projects
3. Authorized by MoR
4. Standardized operation process
5. Trained Professional and workforce
| Period Ended | 30 Sep 2018 | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|---|
| Assets | 8,732.41 | 8,568.55 | 8,859.57 | 22,215.68 |
| Total Income | 3,770.40 | 7,822.29 | 6,162.88 | 4,720.29 |
| Profit After Tax | 253.62 | 569.92 | 443.46 | 429.43 |
| EBITDA | 333.36 | 713.53 | 583.77 | 526.76 |
| NET Worth | 4,062.12 | 3,925.25 | 3,556.88 | 3,422.43 |
| Reserves and Surplus | 1,977.10 | 1,840.23 | 1,471.86 | 1,337.41 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| IRCON International Ltd. | Mainboard | ₹466.93 Cr | ₹475 | null | ₹415.30 | -12.57% | ₹134.55 (-0.81%) |
| RITES Ltd. | Mainboard | ₹460.51 Cr | ₹185 | null | ₹213.30 | +15.30% | ₹224.93 (-3.56%) |
| BCPL Railway Infrastructure Ltd. | SME | ₹17.01 Cr | ₹35 | null | ₹36.30 | +3.71% | ₹72.45 (-2.01%) |
| Ranjeet Mechatronics Ltd. | SME | ₹4.50 Cr | ₹25 | null | ₹28.85 | +15.40% | ₹6.30 (+0.00%) |
The Rail Vikas Nigam IPO IPO subscription status. Full data available on IPOMatrix.com.
| Category | Subscription (times) | Shares Offered | Shares bid for | |
|---|---|---|---|---|
| Total | 1.70 | 25,34,57,280 | 43,12,23,000 | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to BRLMs (including processing fees for SCSBs**, printing and stationery expenses, underwriting commission) | 6.50 |
| 2 | Brokerage, bidding charges, fees payable to Sponsor Bank(s) for Bids made by RIBs using UPI and selling commission for Syndicate Member, Registered Brokers, RTAs and CDPs | 0.82 |
| 3 | Fees payable to the Registrar to the Offer and other related fees | |
| 4 | Others i. Other regulatory expenses ii. Advertising and marketing for the Offer iii. Fees payable to legal counsels iv. Miscellaneous | 13.59 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹19.00 | ₹19.00 |
| Open | ₹19.00 | ₹19.00 |
| Low | ₹18.60 | ₹18.65 |
| High | ₹19.75 | ₹19.80 |
| Last Trade | ₹19.05 | ₹19.05 |
Rail Vikas Nigam IPO is a main-board IPO of 25,34,57,280 equity shares of the face value of ₹10 aggregating up to ₹477 Crores. The issue is priced at ₹19 per share. The minimum order quantity is 780.
The IPO opens on Fri, Mar 29, 2019, and closes on Wed, Apr 3, 2019.
Alankit Assignments Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Rail Vikas Nigam IPO using UPI as a payment gateway. Zerodha customers can apply in Rail Vikas Nigam IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rail Vikas Nigam IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rail Vikas Nigam IPO opens on Fri, Mar 29, 2019 and closes on Wed, Apr 3, 2019.
Rail Vikas Nigam IPO lot size is 780, and the minimum amount required for application is ₹14,820.
You can apply in Rail Vikas Nigam IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Rail Vikas Nigam IPO will be done on Monday, April 8, 2019, and the allotted shares will be credited to your demat account by Tue, Apr 9, 2019. Check the Rail Vikas Nigam IPO allotment status.
The Rail Vikas Nigam IPO listing date is on Thu, Apr 11, 2019.
