On January 2003, RVNL was established as a fully owned public sector undertaking (PSU) of the Indian Ministry of Railways. Credit: Pete Linforth from Pixabay.

The Indian Government has announced that it will sell a 15% stake in Rail Vikas Nigam Limited (RVNL) to raise nearly $103m (Rs7.5bn).

The issue is open for both non-retail investors and retail investors.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on social media: “Offer for Sale in RVNL opens tomorrow for Non-Retail investors. Retail investors can bid on Thursday. The government would divest 10% equity with a 5% Green Shoe option.”

The floor price of one share has been fixed at $0.38 (Rs27.50), reported Press Trust of India.

RVNL was established as a fully owned public sector undertaking (PSU) of the Indian Ministry of Railways in January 2003.

RVNL was incorporated for raising extra-budgetary resources and has also executed several projects on a fast-track basis in connection with the formation and capacity expansion of rail infrastructure.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last month, RVNL successfully conducted the trial run of an electric locomotive for the very first time in the northeastern state of Assam.

The new locomotive will support the Indian Railways to provide electric rail connectivity in the isolated northeastern parts of the country.

Full operations under electric traction are currently being implemented from the New Jalpaiguri (NJP) station in West Bengal.

In order to transform India into a green country, the Indian Ministry of Railways is working to renovate the whole railway network, with electrification being a priority.

As of November 2020, around 66% of the track length has been electrified.

Indian Railways is aiming to complete the electrification of its entire broad-gauge network by 2023, enabling trains to run without using imported fossil fuel.