Rail Vikas Nigam IPO
Rail Vikas Nigam IPO — date, price band, lot size & details 2019
Rail Vikas Nigam listed on 11 Apr 2019 at ₹19, flat to the ₹19 issue price.
Rail Vikas Nigam (RVNL) is a project executing agency set up by the Ministry of Railways to build rail projects, including golden quadrilateral and port connectivity works. Its total income was Rs 7,822.29 crore in FY2018.
Stock price
Rail Vikas Nigam is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 29 Mar 2019
- Close 03 Apr 2019
- Allotment 08 Apr 2019
- Refund/credit 09 Apr 2019
- Listing 11 Apr 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 Mar to 3 Apr, 2019 |
|---|---|
| Price Band | ₹17 – ₹19 |
| Face Value | ₹10 |
| Lot Size | 780 Shares |
| Issue Size | ₹476.86 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 0.50 per share |
| Registrar | Alankit Assignments Limited |
| Min Investment | ₹ 14,820 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 780 shares at the ₹19 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 4,720.29 crore in FY2016 to Rs 7,822.29 crore in FY2018.
- 02Profit after tax rose from Rs 429.43 crore in FY2016 to Rs 569.92 crore in FY2018.
- 03Net worth rose from Rs 3,422.43 crore in FY2016 to Rs 4,062.12 crore on 30 September 2018.
- 04As the Ministry of Railways' project agency it works on large national rail projects; EBITDA was Rs 713.53 crore in FY2018.
Risks · 5
- 01Profit after tax was Rs 569.92 crore on income of Rs 7,822.29 crore in FY2018, so margins are thin.
- 02Its work depends entirely on railway ministry budgets and projects; profit was Rs 253.62 crore in six months to September 2018.
- 03Large rail projects can face land and approval delays; total assets were Rs 8,732.41 crore.
- 04The whole Rs 476.86 crore issue was an offer for sale, so none of it went to the company.
- 05The government held 100% before the issue and 87.84% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the Rail Vikas Nigam offer document.
| Metric | 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 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Rail Vikas Nigam IPO will be updated shortly.
About the company
It mobilises financial resources and develops rail projects, including works to strengthen the golden quadrilateral and port connectivity.
It also raises extra budgetary resources for Indian Railways projects.
The IPO was Rs 476.86 crore and was entirely an offer for sale by the Government of India at Rs 19, the top of the Rs 17 to Rs 19 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Rail Vikas Nigam IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
IDBI Capital Markets & Securities Ltd.
42 issues handledBest listing: Route Mobile (+104.9%). Weakest: Bharat Dynamics (-13.6%).
Elara Capital (India) Pvt. Ltd
6 issues handledBest listing: Orient Technologies (+39.8%). Weakest: Manoj Vaibhav Gems 'N' Jewellers (0.0%).
YES Bank Ltd
14 issues handledBest listing: CDSL (+67.8%). Weakest: New India Assurance (-6.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Rail Vikas Nigam?
The current Grey Market Premium is ₹0.5, or 3% over the issue price.
What is the Rail Vikas Nigam IPO price band?
₹17 to ₹19, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 April 2019, with listing on 11 April 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Alankit Assignments Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
