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.
| Bidding Dates |
|---|
| 29 Mar 2019 - 03 Apr 2019 |
| Subscription |
|---|
| 1.82x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,820 | 1 | 13 | 780 | 253.5 M | ₹17 - ₹19 | 87.84 % | ₹4308.8 M - ₹4815.7 M | RHP DOC |
Rail Vikas Nigam IPO SUBSCRIPTION STATUS
03 Apr '19Rail Vikas Nigam IPO overall subscription rate was 1.82 times the total available shares
Rail Vikas Nigam IPO retail subscription rate was 2.92 times in the retail segment
Rail Vikas Nigam IPO non-institutional investor subscription rate was 0.8 times in the non-institutional investor category
Rail Vikas Nigam IPO Qualified Institutional Bidder subscription rate was 1.36 times the available shares for Qualified Institutional Bidder
Rail Vikas Nigam IPO Employees subscription rate was 2.11 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
03 Apr 2019 (Day 4) | 2.92x | 0.8x | 1.36x | 2.11x |
02 Apr 2019 (Day 3) | 1.25x | 0.15x | 0.03x | 0.9x |
01 Apr 2019 (Day 2) | 0.49x | 0.03x | 0x | 0.48x |
29 Mar 2019 (Day 1) | 0.24x | 0.02x | 0x | 0.16x |
Rail Vikas Nigam FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 6MFY19 | 2,536.2 | 36,228.8 | 2,120.0 | 2,030.7 |
| FY18 | 5,699.2 | 75,973.6 | -3,121.5 | -4,032.8 |
| FY17 | 4,434.6 | 59,151.1 | 5,707.5 | 3,940.1 |
| FY16 | 4,294.3 | 45,398.5 | 6,520.9 | 6,482.7 |
| FY15 | 3,368.5 | 31,465.4 | 1,134.5 | 1,085.8 |
Rail Vikas Nigam IPO SUBSCRIPTION STATUS DETAILS
Rail Vikas Nigam had 253.5 M shares on offer
Rail Vikas Nigam IPO offer price was in the range ₹17 - ₹19
Rail Vikas Nigam IPO minimum Investment was ₹14820
Rail Vikas Nigam IPO issue size was ₹ 4308.8 M - ₹ 4815.7 M
Rail Vikas Nigam had a minimum lot size of 780 Shares per application
Rail Vikas Nigam NUMBER OF SHARES ON OFFER
Rail Vikas Nigam IPO IMPORTANT DATES
| Issue Open Date | 29 Mar 2019 |
| Issue close Date | 03 Apr 2019 |
| Allotment Date | 08 Apr 2019 |
| Refund Date | 09 Apr 2019 |
| Demat Account Credit Date | 09 Apr 2019 |
| Listing Date | 11 Apr 2019 |
| Listing on Exchange(s) | NSE and BSE |
| Rail Vikas Nigam Allotment Status | Exchange |
Rail Vikas Nigam IPO subscription opened on 29 Mar 2019, and closed on 03 Apr 2019
IPO allotment for Rail Vikas Nigam was finalized on Monday, 08 Apr 2019
IPO listing for Rail Vikas Nigam was on NSE and BSE on Thursday, 11 Apr 2019
Rail Vikas Nigam IPO LISTING GAINS
| Issue Price (adjusted) | 19.0 |
| Listing Open Price | 19.0 |
| Listing Close Price | 19.1 |
| Listing Gain% | 0.0% |
| Current Gain% | 1128.3% |
Rail Vikas Nigam Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
| Cemindia Projects Ltd. | 1208.1 | 20753.7 | 34.5 | 0.7 | 2 | 24.9 | 8.4 | 10237.5 | 11.9 | 597.7 | 60.3 | 35 | 46.8 |
Rail Vikas Nigam IPO Reports
Rail Vikas Nigam INFORMATION ON IPO ISSUE
About Rail Vikas Nigam
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.
Object of the Issue
- To carry out the disinvestment of Equity Shares held by the Selling Shareholder in the Company,
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges
Rail Vikas Nigam - PROMOTERS
| Name |
|---|
| President of India acting through the Ministry of Railways |
Rail Vikas Nigam Book Running Lead Manager
Yes Securities (India) Limited
rvnlipo@yessecuritiesltd.in
Elara Capital (India) Private Limited
rvnl.ipo@elaracapital.com
Dbi Capital Markets & Securities Limited
rvnl.ipo@idbicapital.com
Rail Vikas Nigam Registrar to the Offer
Alankit Assignments Limited
sarunraj@alankit.com
Rail Vikas Nigam Strengths
Expertise in project development and execution
Expertise in undertaking all stages of project development and execution from conceptualisation to commissioning
Established financial track record
Company has established a consistent track record of financial performance and growth.
Undertaken diverse categories of projects with an asset light mode
Over the years, the company has leveraged its expertise in diverse segments of the railway infrastructure such as doubling, railway electrification, gauge conversion, new line, metro rail projects, workshops/maintenance facilities for railway sector.
Rail Vikas Nigam Risks
Dependent on the MoR for sourcing of ourprojects
The company is dependent on the MoR for sourcing its ourprojects
Dependent on the project sponsoring authorities
The company completely depends on the project sponsoring authorities like MoRand state governments etc. for financing of projects.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 481.6 crore, of 253,457,280 shares.
The promoter of the company is President of India acting through the Ministry of Railways.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 17.0 - 19.0.
The IPO application opens on Mar 29, 2019 and closes on Apr 03, 2019.
The minimum lot size for the IPO is 780. The maximum lot size for the IPO is 10140.
For all category investors, the minimum application amount for this IPO is Rs. 14,820.0, the maximum value for this IPO is Rs 192,660.0.
This IPO will be allotted on Apr 08, 2019.
The refund will be credited to your account on Apr 09, 2019.
The allotted shares will be credited to your demat on Apr 09, 2019.
Rail Vikas Nigam Ltd.’s shares listed on the stock exchanges on Apr 11, 2019.