Centre may sell stake in Rail Vikas Nigam through OFS this month

In October 2020, the government had announced it would sell its 15 per cent stake in the company

The government may sell its stake in Rail Vikas Nigam (RVNL) through an offer for sale (OFS) this month, according to a senior government official. The plan was delayed by a few months as the stock nosedived during the pandemic and was trading below its book value.

The stock of the public sector undertaking (PSU), which executes railway infrastructure projects, has recovered since, and hit a 52-week high of Rs 35.60 on January 11, 2021. Its shares ended at Rs 29.65 apiece on the BSE on Thursday, down 3.26 per cent.

In October 2020, the government had announced it would sell its