The most awaited IPO of PSU Rail Vikas Nigam Ltd. set sail today. The Rs 481 crore -IPO of RVNL is offering 25.34 crore shares at a price band of Rs 17-19 per share. The issue is an OFS (offer for sale) which is subjected to close on April 3. After the launch of the IPO government’s stake will reduce to 88% after diluting its stake of 12.2% in the rail PSU.  
On December 31, RVNL’s order book stood at Rs 77,504 crore, which includes 102 ongoing projects. In the fiscal year 2018, its revenue from operations on a consolidated basis stood at Rs 7,597 crore and net profit at Rs 570 crore, with earnings before interest, tax, depreciation and amortization (EBITDA), the margin of 5.1%. The company’s revenue from operations went up at a CAGR of 29.36% from FY16 to FY18. During the same period, the net profit rose at a CAGR of 15.20%.
Read EquityPandit’s Nifty Outlook for the Week