Through the OFS, the Government of India (the 'promoter') proposes to sell up to 7,08,90,683 equity shares (representing 3.40% stake), with an option to sell an additional 1.96% stake or 4,08,66,394 equity shares in case of oversubscription.

The floor price for the sale has been set at Rs 119, a 7.43% discount to the stock's closing price of Rs 128.55 on Wednesday, 26 July 2023.

The total OFS size (base size + green shoe) stands at 11,17,57,077 shares, representing 5.36% of outstanding equity shares of the company, the value of which (at floor price) aggregates to Rs 1,329.90 crore.

The Government of India held 78.20% stake in Rail Vikas Nigam as of 30 June 2023.

The OFS opened on Thursday (27 July 2023) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Friday (28 July 2023).

As of 14:10 IST, the OFS received subscription for 4,69,42,179 shares. It was subscribed 73.58% on the base non-retail offer size of 6,38,01,614 shares and 46.67% on the total non-retail offer size (base size + green shoe) of 10,05,81,369 shares.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

The company's net profit declined 5% to Rs 359.25 crore on 11.15% decrease in revenue from operations to Rs 5,719 crore in Q4 FY23 over Q4 FY22.