PSU IPO woes continue after Rail Vikas Nigam makes tepid debut; lists at Rs 19 on BSE

Shares of state-run Rail Vikas Nigam Ltd made a tepid debut on the exchanges on Thursday morning, even as the shares listed at Rs 19, flat as compared to its IPO price of Rs 19.

PSU IPO woes continue after Rail Vikas Nigam makes tepid debut; lists at Rs 19 on BSE

Shares of state-run Rail Vikas Nigam Ltd made a tepid debut on the exchanges on Thursday morning, even as the shares listed at Rs 19, same as its IPO price. Poor run continues for PSU IPOs, with a slew of public offers trading below their issue price. The recently listed MSTC shares are trading at Rs 112, 6% below the issue price of Rs 120. Notably, several PSU issues including IRCON International, Garden Reach, Coal India, NALCO, HUDCO, RCFL, National Fertilizers have left investors with poor returns.

Rail Vikas Nigam Ltd IPO for Rs 481 crore had sailed through on April 3rd as the issue was subscribed about 1.72 times. The issue received bids for 43.63 crore shares as against the issue size of 25.34 lakh shares implying a total subscription of 1.72 times. Notably, the QIB portion saw heavy demand and was subscribed 1.36 times, as investors from the category bid for a total of 17.20 crore shares as against their issue size of 12.64 crore shares.