In this article we will look at the upcoming Rashtriya Ispat Nigam Limited RINL IPO.
Let's start with some basic details first:
- This amount will be utilized in the business and production capacity expansion
What are the primary reasons for RINL to come out with the RINL IPO?
There are multiple reasons for Rashtriya Ispat Nigam (RINL) to come out with its IPO:
- RINL is planning to expand its manufacturing capacity to 6.3 MTPA
- It is seen as a part of initiating the 3,000 Crore Rs. divestment plan of the Government
- Rashtriya Ispat Nigam (RINL) got a Navratna status in November 2010. To retain that Navratna status, it needs to bring its IPO in two years i.e. before November 2012.
- It had earlier deferred its IPO twice in the recent past - first in June because of bad market conditions and second in July because of a fire breakout at it Vizag factory
RINL IPO: Review Analysis & Details
What is the issue size of the RINL IPO?The RINL IPO size is Rs 2,500 crore.
What is the price band of RINL IPO?
The Face Value of each Equity Share is Rs. 10 each.
The price of RINL shares for this IPO issue will be decided by EGoM (Empowered Group of Ministers) most probably on 8th October and then publicised, as per the reports.
How many shares will be sold in the RINL IPO?
The total no. of shares to be sold through this IPO is not known precisely, at this moment.
What are the IPO dates for RINL IPO?
The final IPO dates for RINL IPO are from October 16 to October 18.
Shares are expected to be listed on October 31, 2012.
How will the capital raised by RINL IPO be used?
The capital raised will be used in:
For the expansion of its existing manufacturing facilities.
Any ratings given to RINL IPO?
No info about the ratings yet.
What are the analysts recommendations and business results for RINL IPO?
The government owned Rashtriya Ispat Nigam Limited is the second largest state-owned steel maker in India. Being a Navratna Company in steel segment, its stability and business are expected to remain stable. Investors can look for investing through the RINL IPO for a long term hold
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