 "Indian railways")
The Rs 860-crore share sale in Rail Vikas Nigam by the Centre saw muted response from investors on Wednesday. Out of total of 312.7 million shares put on the block, institutional investors subscribed to only 198 million shares in the offer for sale (OFS), data provided by stock exchanges showed.
Market players said the volatility in the secondary market impacted demand. Shares of Rail Vikas dropped 9.2 per cent to end at Rs 27.65. The floor price for the OFS was set at Rs 27.5.
Centre currently holds 87.84 per cent stake in Rail Vikas, the project executing agency for
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