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Rashtriya Ispat Nigam Ltd (RINL) IPO Update

Rashtriya Ispat Nigam Ltd (RINL) IPO is going to be open for subscription wef 15 Oct 2012 and it is entering in the capital markets with an initial public offering of 488,984,620 Equity Shares of Rs 10 each. The issue opens on Oct 15, 2012 and closes for subscription on Oct 18, 2012. India Ratings & Research Private Ltd has assigned the ratings of "IND 4" which indicates above average fundamentals.

It is a government owned second largest steel manufacturer and it is important to note that Rashtriya Ispat Nigam Ltd is also known as Vizag Steel.

Good Points about IPO

  • PSU under the Ministry of Steel which is debt free.
  • It was granted the ‘Navratna’ status by the Government of India in Nov 2010.
  • 5% discount to retail investors and eligible employees in Rashtriya Ispat Nigam IPO shares.
  • Listing at Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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