Stocks

Rail Vikas Nigam Ltd shares make flat debut; list at Rs 19

PTI New Delhi | Updated on April 11, 2019

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Shares of Rail Vikas Nigam Limited (RVNL) made a flat market debut Thursday, listing at its issue price of Rs 19.

The scrip got listed at Rs 19 on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Later, it touched a high of Rs 19.45, registering a gain of 2.36 per cent from the issue price on the BSE. The scrip also hit a low of Rs 18.60, 2.10 per cent lower during the initial trade.

At the NSE, shares of the company touched a high of Rs 19.50 and a low of Rs 18.65.

The company’s market valuation stood at Rs 4,003.24 crore on the BSE.

Its Rs 480 crore initial public offer was subscribed 1.8 times earlier this month and price range for the issue was fixed at Rs 17-19 per share.

RVNL is in the business of executing all types of railway projects, including new lines, gauge conversion, railway electrification, metro projects, major bridges and construction of cable stayed bridges.

Published on April 11, 2019

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