The initial public offer of Rashtriya Ispat Nigam Ltd. (RINL) has been deferred for the third time as the Steel Ministry and merchant bankers could not arrive at a consensus on the price band.
“The issue has been deferred,” RINL Chairman and Managing Director A. P. Choudhary told PTI.
He did not divulge reasons for deferment of the initial public offer (IPO), which was to hit markets on October 16.
Incidentally, the RINL issue was supposed to begin the disinvestment process this year through which the government was aiming to garner Rs.30,000 crore.
Keywords: RINL IPO