Rail Vikas Nigam IPO

A joint venture of state-owned RVNL and private steel player Salasar Techno Engineering has bagged a transmission project worth around Rs 60 crore in central African nation Rwanda. The order has been secured from Energy Development Corporation Limited (EDCL) and to be executed in 18 months, Salasar Techno Engineering Limited (STEL) said in a statement on Friday. The Rwanda Transmission System Reinforcement and Last Mile Connectivity project (TSRLMC) worth USD 7.152 million equivalent to Rs 596.21 million (Rs 59.6 crore) is for plant design, supply and installation of 45.8 km, 110 KV double circuit Rukarara-Huye-Gisagara transmission lines, it said. Earlier this month, the JV bagged a transmission project worth around Rs 174 crore from the Madhya Pradesh government. While Rail Vikas Nigam Ltd (RVNL) holds a 51 per cent stake in the joint venture, STEL owns the remaining 49 per cent. RVNL, under the Ministry of Railways, is involved in development, financing and implementation of ra

Public Sector Undertaking RVNL's order book has touched Rs 65,000 crore, 50 per cent of which are railway projects, the company has said. RVNL is also looking for new projects in off-shore markets including Central Asia and UAE and Western Asia, the management said in an investors call. "We have got an order book of around Rs 65,000 crore, which roughly constitutes 50 per cent from the nomination, that is the typical railway projects, and 50 per cent from the market. In time to come, we should maintain an order book of around Rs 75,000 crore," top management officials said in reply to a question. Of the total order book, the share of the Vande Bharat trains was around Rs 9,000 crore, and Rs 7,000 crore was for several metro projects. The company has also bagged projects in the electrification and transmission lines among others. RVNL is also diversifying to other segments and eyeing many projects in the foreign countries, they said. On growth plans in offshore markets, the managem

These six companies are currently valued at Rs 6,272 crore, 19 per cent higher than the Rs 5,275 crore they collectively raised via IPOs

The Rs 482 crore initial public offering (IPO) of the company was opened last week. The price band has been fixed at Rs 17 - Rs 19 per share.

RVNL, which is a project executing agency working for and behalf on Ministry of Railways, has an order book of Rs 77,500 crore.