Monday, October 8, 2012

Rashtriya Ispat Nigam Ltd (RINL) IPO will open on Oct 15th

Rashtriya Ispat Nigam Ltd is entering in the capital markets with an initial public offering, IPO of 488,984,620 Equity Shares of Rs 10 each. The price band for the issue has not been fixed yet and will be decide at least two working days prior to the offer opening date.

Rashtriya Ispat Nigam Limited (RINL) is second largest government owned India based Steel manufacturer. Rashtriya Ispat Nigam Ltd, also known as Vizag Steel, is a PSU under the Ministry of Steel. Rashtriya Ispat was granted the ‘Navratna’ status by the Government of India in Nov 2010. RINL is a debt free company.

The issue opens on Oct 15, 2012 and closes for subscription on Oct 18, 2012. The equity shares of the issue are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). India Ratings & Research Private Ltd has been assigned the "IND 4" indicating above average fundamentals.

The promoter of Rashtriya Ispat Nigam, has offered upto 5% discount to retail investors and eligible employees in Rashtriya Ispat Nigam IPO shares.

Visit Rashtriya Ispat Nigam Ltd IPO detail page for more info.