Rail Vikas Nigam Limited has filed a draft proposal with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The government has proposed the sale of a little over 208.52 million shares of the 2.085 billion it owns. The IPO will result in a stake dilution of roughly 10.5 per cent. Yes Securities (India), Elara Capital (India) and IDBI Capital Markets & Securities are the merchant bankers managing the IPO.
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