According to a company disclosure, the government is offering to sell nearly 7. 1 crore shares (3. 4%) of RVNL at the floor price. In case of oversubscription, it also has the option to sell another 4. 1 crore shares (2%) of the company under the green shoe option.
The retail part of the offer will be open on Friday while non-retail investors, including institutional ones, are allowed to bid on Thursday and Friday, and 10% of the offer is reserved for the retail category. IDBI Capital Markets & Securities, and Elara Securities (lndia) are the brokers to the offer.