Rashtriya ISPAT Nigam Limited IPO Date

Hi I am interested in knowing about Rashtriya Ispat Nigam Limited (RINL) as well as the details of the initial public offer which had been issued by the company?

Incorporated in 1982, Rashtriya Ispat Nigam Limited (RINL) is India based Steel producer. Rashtriya Ispat Nigam Ltd, otherwise called Vizag Steel, is a PSU under the Ministry of Steel. Rashtriya Ispat was conceded the "Navratna" status by the Government of India in Nov 2010.

RINL delivers more than 3.5 million tons of steel for each year through its plant situated at Visakhapatnam, Andhra Pradesh.

RINL is an obligation free organization with yearly turnover of Rs 14,457 Crore in 2011-12. Organization had focus of Rs 15,000 Cr turnover for the year 2012-13 financial year.

Objects of the Issue:

The objects of the issue are to:

1. Carry out the disinvestment of 488,984,620 Equity Shares by the Selling Shareholder; as well as
2 To accomplish the benefits of listing the Equity Shares on the Stock Exchanges.

Issue Detail:

Issue Open:
Issue Type: Book Built Issue IPO
Issue Size: 488,984,620 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
Face Value: Rs 10 Per Equity Share
Issue Price: Rs. - Rs. Per Equity Share
Market Lot:
Minimum Order Quantity:
Listing At: BSE, NSE

5% Discount for Retail Bidders and Eligible Employees

The promoter of Rashtriya Ispat Nigam, has offered 5% rebate to retail financial specialists and qualified representatives in Rashtriya Ispat Nigam IPO offers. The Rashtriya Ispat Nigam IPO markdown will be relevant on the cost settled for Rashtriya Ispat Nigam shares through this IPO.

Rashtriya Ispat Nigam IPO Grading

India Ratings and Research Private Limited has alloted an IPO Grade 4 ("IND 4") to Rashtriya Ispat Nigam IPO. This implies according to India Ratings and Research, organization has 'Better than expected Fundamentals'. The IPO evaluating is relegated on a five guide scale from 1 toward 5 with an "Initial public offering Grade 5" demonstrating solid essentials and an "Initial public offering Grade 1" showing poor basics.

__________________
Answered By StudyChaCha Member