This is a public announcement for information purposes only and is not a prospectus announcement. This announcement does not constitute an invitation or offer to acquire, purchase or subscribe to securities. Not for release, publication or distribution, directly or indirectly outside India.
RAIL VIKAS NIGAM LIMITED

Our Company was incorporated in Delhi as a public limited company on January 24, 2003 as Rail Vikas Nigam Limited with the Registrar of Companies, National Capital Territory of Delhi & Haryana under the Companies Act, 1956. For further details in connection with change in name and registered office of our Company, see "History and Certain Corporate Matters" on page 130 of the prospectus dated April 04.2019 (" Prospectus").

Registered and Corporate Office: Rail Vikas Nigam Limited, 1st floor, August Kranti Bhawan, Bhikaji Cama Place, R. K. Puram, New Delhi 110 066: Contact Person: Kalpana Dubey, Company Secretary and Compliance Officer
Tel: +91 11 26738299. Facsimile: +91 11 2618 2957; Email: investors@rvnl.orgWebsite: www.rvnl.orgCorporate Identity Number: U74999DL2003GO1118633
OUR PROMOTER: THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF RAILWAYS, GOVERNMENT OF INDIA

Our Company has filed the Prospectus with the Registrar of Companies, National Capital Territory of Delhi & Haryana at Delhi and the Equity Shares are proposed to be listed on BSE Limited f BSE*) and National Slock Exchange of India Limited f NSE") (together the "Stock Exchanges'") and the trading will commence on April 11,2019.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 253,457,280 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF RAIL VIKAS NIGAM LIMITED (OUR "COMPANY" OR THE "ISSUER") THROUGH AN OFFER FOR SALE BY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF RAILWAYS, GOVERNMENT OF INDIA (THE "SELLING SHAREHOLDER"), FOR CASH AT A PRICE* OF RS. 19 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 9 PER EQUITY SHARE (THE "OFFER PRICE"), AGGREGATING TO RS. 4,771.12 MILLION (THE "OFFER"). THE COMPANY HAS RESERVED 657,280 EQUITY SHARES FOR ALLOCATION AND ALLOTMENT TO ELIGIBLE EMPLOYEES ("EMPLOYEE RESERVATION PORTION"). THE OFFER LESS EMPLOYEE RESERVATION PORTION, IS REFERRED TO AS THE NET OFFER. THE OFFER COMPRISED OF A NET OFFER OF 252,800,000 EQUITY SHARES AND THE EMPLOYEE RESERVATION PORTION OF 657,280 EQUITY SHARES. THEOFFERANDNETOFFER CONSTITUTED 12.16% AND 12.12% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY RESPECTIVELY. THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH. THE OFFER PRICE IS 1.9 TIMES THE FACE VALUE OF THE EQUITY SHARES.

*A discount of Rs.0.50 per Equity Share on the Offer Price was offered to Retail Individual Bidders ("Retail Discount") and a discount of Rs.0.50 per Equity Share on the Offer Price was offered to Eligible Employees Bidding in the Employee Reservation Portion ("Employee Discount").

OFFER PRICE : RS. 19 PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH
THE OFFER PRICE IS 1.9 TIMES OF THE FACE VALUE OF THE EQUITY SHARES
RETAIL DISCOUNT AND EMPLOYEE DISCOUNT : RS. 0.50 PER EQUITY SHARE ON OFFER PRICE
Risk to Investors
The three Book Running Lead Managers associated with the Offer have handled 18 public issues in the past three years out of which 6 closed below the issue price on listing date.
The average cost of acquisition per Equity Share for our Promoter and Selling Shareholder is Rs. 10 per Equity Share. The Offer Price is Rs. 19.
BID/OFFER PROGRAMME
OPENED ON: MARCH 29, 2019 I CLOSED ON: APRIL 3, 2019

The Offer was made in terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), and in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI ICDR Regulations"), wherein 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIB Portion"). 5% of the QIB Portion was available for allocation on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion was available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Net Offer was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price Further, up to 657,280 Equity Shares was offered for allocation and Allotment on a proportionate basis to the Eligible Employees Bidding in the Employee Reservation Portion, conditional upon valid Bids being received from them at or above the Offer Price. All Bidders were required to participate in the Offer mandatorily through the Applications Supported by Blocked Amount ("ASBA") process by providing the details of their respective ASBA Accounts (including UPI ID. if applicable) in which the corresponding Bid Amount is blocked by the SCSBs. For details, see ‘Offer Procedure 'on page 446 of the Prospectus.

The Offer received 205,853 applications for 445,089,060 Equity Shares resulting in 1.76 times subscription. The details of the applications received in the Offer from Retail Individual Bidders. Non-lnstitutional Bidders, QIBs and Eligible Employees are as under (before technical rejections):

Sr. No. Category No. of Applications No. of Equity Shares applied Shares Reserved as per Prospectus No. of times Subscribed Amount (Rs.)
A Retail Individual Investors 205,326 246,376,260 88,480,000 2.78 4,559,026,091.00
B Non-lnstitutional Investors 242 25,923,300 37,920,000 0.68 491,805,990.00
C Qualified Institutional Bidders 32 172,078,920 126,400,000 1.36 3,269,499,480.00
D Eligible Employee 253 710,580 657,280 1.08 13,085,670.00
  Total 205,853 445,089,060 253,457,280   8,333,417,231.00

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date at different Bid price is as under

SI. No. Bid Price (in Rs.) Bid Quantity (No. of shares) (%) To Total Cumulative Total Cumulative % to Total
1 17 4,343,040 0.94 463,401,120 100.00
2 18 1,832,220 0.40 459,058,080 99.06
3 19 249,931,500 53.93 457,225,860 98.67
4 Cut Off 207,294,360 44.73 207,294,360 44.73
    463,401,120 100.00    

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on April 09, 2019.

A. Allotment to Retail Individual Investors (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Offer Price of Rs. 19 per Equity Share (less discount of Rs. 0.50 per Equity Share to the Offer Price), was finalized in consultation with BSE. This category has been subscribed to the extent of 2.49 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 93,805,123 Equity Shares to 120,262 successful applicants. The category-wise details of the Basis of Allotment are as under:

SI. No. Category (No. of Shares applied for) No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares Allotted per applicant Ratio Total No. of Equity Shares Allotted
1 780 163,847 84.16 127,800,660 54.73 780 21:34 78,943,800
2 1,560 15,159 7.79 23,648,040 10.13 780 21:34 7,303,920
3 2.340 4,620 2.37 10,810,800 4.63 780 21:34 2,226,120
4 3,120 2,146 1.10 6,695,520 2.87 780 55:89 1,034,280
5 3.900 1,792 0.92 6,988,800 2.99 780 21:34 863,460
6 4,680 949 0.49 4,441,320 1.90 780 21:34 457,080
7 5,460 1,153 0.59 6,295,380 2.70 780 21:34 555,360
8 6.240 298 0.15 1,859,520 0.80 780 50:81 143,520
9 7,020 138 0.07 968,760 0.41 780 61:99 66,300
10 7,800 959 0.49 7,480,200 3.20 780 50:81 461,760
11 8,580 81 0.04 694,980 0.30 780 50:81 39,000
'2 9,360 220 0.11 2,059,200 0.88 780 34:55 106,080
13 10,140 3,329 1.71 33,756,060 14,46 780 21:34 1,604,443
19,052 allotees from Sr. No 2 to 13 alloted 1 additional share in the ratio of 33:824 763
  TOTAL 194,691 100.00 233,499,240 100.00      

Unsubscribed portion of 5,325,123 Equity Shares spilled over from Eligible Employees& nib Categories:

B. Allotment to Non Institutional Investors (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders, who have bid at the Offer Price of Rs. 19 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.67 times. The total number of Equity Shares allotted in this category is 25.292.280 Equity Shares to 212 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample)

SI. No. Category (No. of Shares applied for) No. of Applications Received %of Total Total No. of Equity Shares applied % to Total No. of Equity Shares Allotted per applicant Ratio Total No. of Equity Shares Allotted
1 10,920 38 17.92 414,960 1.64 10,920 1:1 414,960
2 11,700 21 9.91 245,700 0.97 11,700 1:1 245,700
3 12,480 9 4.25 112,320 0.44 12,480 1:1 112,320
4 13,260 2 0.94 26,520 0.10 13,260 1:1 26,520
5 14,040 1 0.47 14,040 0.06 14,040 1:1 14,040
6 15,600 14 6.60 218,400 0.86 15,600 1:1 218,400
7 16,380 3 1.42 49,140 0.19 16,380 1:1 49,140
8 17,940 1 0.47 17,940 0.07 17,940 1:1 17,940
9 18,720 3 1.42 56,160 0.22 18,720 1:1 56,160
10 19,500 8 3.77 156,000 0.62 19,500 1:1 156,000
11 20,280 2 0.94 40,560 0.16 20,280 1:1 40,560
12 21,060 10 4.72 210,600 0.83 21,060 1:1 210,600
13 21,840 4 1.89 87,360 0.35 21,840 1:1 87,360
14 23,400 8 3.77 187,200 0.74 23,400 1:1 187,200
15 24,960 3 1.42 74,880 0.30 24,960 1:1 74,880
16 25,740 5 2.36 128,700 0.51 25,740 1:1 128,700
17 26,520 8 3.77 212,160 0.84 26,520 1:1 212,160
18 27,300 5 2.36 136,500 0.54 27,300 1:1 136,500
19 28,080 1 0.47 28,080 0.11 28,080 1:1 28,080
20 31,200 7 3.30 218,400 0.86 31,200 1:1 218,400
21 31,980 1 0.47 31,980 0.13 31,980 1:1 31,980
22 35,100 2 0.94 70,200 0.28 35,100 1:1 70,200
23 38,220 1 0.47 38,220 0.15 38,220 1:1 38,220
24 39,000 4 1.89 156,000 0.62 39,000 1:1 156,000
25 39,780 1 0.47 39,780 0.16 39,780 1:1 39,780
26 42,900 1 0.47 42,900 0.17 42,900 1:1 42,900
27 43,680 1 0.47 43,680 0.17 43,680 1:1 43,680
28 46,800 1 0.47 46,800 0.19 46,800 1:1 46,800
29 50,700 1 0.47 50,700 0.20 50,700 1:1 50,700
30 51,480 1 0.47 51,480 0.20 51,480 1:1 51,480
31 52,260 7 3.30 365,820 1.45 52,260 1:1 365,820
32 53,040 1 0.47 53,040 0.21 53,040 1:1 53,040
33 54,600 1 0.47 54,600 0.22 54,600 1:1 54,600
34 56,160 1 0.47 56,160 0.22 56,160 1:1 56,160
35 60,060 1 0.47 60,060 0.24 60,060 1:1 60,060
36 63,180 1 0.47 63,180 0.25 63,180 1:1 63,180
37 78,000 3 1.42 234,000 0.93 78,000 1:1 234,000
38 81,120 1 0.47 81,120 0.32 81,120 1:1 81,120
39 89,700 1 0.47 89,700 0.35 89,700 1:1 89,700
40 91,260 1 0.47 91,260 0.36 91,260 1:1 91,260
41 99,640 1 0.47 99,840 0.39 99,840 1:1 99,840
42 104,520 1 0.47 104,520 0.41 104,520 1:1 104,520
43 105,300 4 1.89 421,200 1.67 105,300 1:1 421,200
44 131,040 1 0.47 131,040 0.52 131,040 1:1 131,040
45 160,680 1 0.47 160,680 0.64 160,680 1:1 160,680
46 184,080 1 0.47 184,080 0.73 184,080 1:1 184,080
47 209,820 1 0.47 209,820 0.83 209,820 1:1 209,820
48 210,600 1 0.47 210,600 0.83 210,600 1:1 210,600
49 257,400 1 0.47 257,400 1.02 257,400 1:1 257,400
50 262,860 3 1.42 788,580 3.12 262,860 1:1 788,580
51 263,640 1 0.47 263,640 1.04 263,640 1:1 263,640
52 265,200 1 0.47 265,200 1.05 265,200 1:1 265,200
53 300,300 1 0.47 300,300 1.19 300,300 1:1 300,300
54 446,940 1 0.47 446,940 1.77 446,940 1:1 446,940
55 491,400 1 0.47 491,400 1.94 491,400 1:1 491,400
56 525,720 1 0.47 525,720 2.08 525,720 1:1 525,720
57 526,500 3 1.42 1,579,500 6.25 526,500 1:1 1,579,500
58 1,999,920 1 0.47 1,999,920 7.91 1,999,920 1:1 1,999,920
59 2,496,000 1 0.47 2,496,000 9.87 2,496,000 1:1 2,496,000
60 9,999,600 1 0.47 9,999,600 39.54 9,999,600 1:1 9,999,600
  TOTAL 212 100.00 25,292,280 100.00     25,292,280

Unsubscribed portion of 12,673,428 Equity Shares are spilled over to QIB & Retail Categories.

C. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have bid at the Offer Price of Rs. 19 per Equity Share, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 1.28 times of the QIB portion. As per the SEBIICDR Regulations. Mutual Funds were allotted 5% of the Equity Shares of the QIB portion available i.e. 7,080,732 Equity Shares and other QIBs were allotted the remaining available Equity Shares i.e. 126,926,585 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 134,007,317 Equity Shares, which were allotted to 32 successful Applicants.

Category Fls/Banks Fll MFs ICs NBFC Others Total
No. of Applicants 5 4 13 8 1 1 32

Unsubscribed portion of 7,607,317 Equity Shares spilled over from Eligible Employees & NIB Categories.

D. Allotment to Eligible Employee under Employee reservation (After Technical Rejections)

The Basis of Allotment to the Eligible Employees under Employee reservation portion, who have bid at cut-off or at the Offer Price of Rs. 19 per Equity Share (less discount of Rs. 0.50 per Equity Share), was finalized in consultation with the BSE. This category has been subscribed to the extent of 0.54 times. The total number of Equity Shares Allotted in Employee reservation category is 352,560 Equity Shares to 52 successful applicants.

The category-wise details of the Basis of Allotment are as under (sample):

SI. No. Category (No. of Shares applied for) No. of Applications Received %of Total Total No. of Equity Shares applied %to Total No. of Equity Shares Allotted per applicant Ratio Total No. of Equity Shares Allotted
1 780 7 13.46 5,460 1.55 780 1:1 5,460
2 1,560 4 7.69 6,240 1.77 1,560 1:1 6,240
3 2,340 5 9.62 11,700 3.32 2,340 1:1 11,700
4 3,120 5 9.62 15,600 4.42 3,120 1:1 15,600
5 3,900 1 1.92 3,900 1.11 3,900 1:1 3,900
6 5,460 4 7.69 21,840 6.19 5,460 1:1 21,840
7 6,240 2 3.85 12,480 3.54 6,240 1:1 12,480
8 9,360 2 3.85 18,720 5.31 9,360 1:1 18,720
9 10,140 18 34.62 182,520 51.77 10,140 1:1 182,520
10 11,700 2 3.85 23,400 6.64 11,700 1:1 23,400
11 24,960 1 1.92 24,960 7.08 24,960 1:1 24,960
12 25,740 1 1.92 25,740 7.30 25,740 1:1 25,740
  TOTAL 52 100.00 352,560 100.00     352,560

Unsubscribed portion of 304,720 Equity Shares spilled over to QIB's, NIB and Retail Individual Categories in the ratio of 50:15:35 respectively

The Board of our Company at its meeting held on April 09, 2019 has taken on record the Basis of Allotment of the Equity Shares approved by the Designated Stock Exchange, being BSE and has Allotted the Equity Shares to various successful applicants. The Allotment Advice cum Refund Intimations are dispatched to the address of the investors as registered with the depositories on April 10, 2019. Further, instructions to the SCSBs for unblocking of funds and transfer to the Public Offer Account, as applicable, have been issued on Apnl 09, 2019. In case the same is not received within six working days, investors may contact the Registrar to the Offer at the address given below. The Refund Advices have been over-printed with the bank account details as registered, if any. with the depositories. The Equity Shares allotted to the successful applicants have been credited on April 10, 2019 to their respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing application with the Stock Exchanges and has received the listing and trading approvals on April 10, 2019.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer. Alankit Assignments Limited at www.alankit.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the btd was submitted and payment details at the address given below:

Alankit Assignments Limited
Registered Office: 206-208, Anarkali Complex, Jhandewalan Extension, New Delhi -110 055
Tel: +91-11-4254 1954/+-91 -22-4348-1293: Facsimile: +9111 2355 2001;
E-mail: sarunraj@alankit.com / kamaIarora@alankit.com Investor Grievance E-mail: rvnigr@alankit.comWebsite: www.alankit.com Contact Person: S Arunraj'Kamal AroraMrender Sharma; SEBI Registration No.: INR000002532
  For RAIL VIKAS NIGAM LIMITED
  On behalf of the Board of Directors
Date : April 10, 2019 Sd/-
Place : New Delhi Company Secretary & Compliance Officer
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF RAIL VIKAS NIGAM LIMITED.

RAIL VIKAS NIG AM LIMITED has filed and registered the Prospectus with the Registrar of Companies, National Capital Territory of Delhi & Haryana at Delhi on April 04, 2019 and April 10, 2019, respectively. The Prospectus is available on the website of the SEBI at www.sebi.gov.in, on the websites of the Stock Exchanges at www.bseindia.com and www.nsetndia.com as well as on the websites of the BRLMs at www.yesinvest.inwww.elaracapital.com  and www.idbicapital.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled 'Risk Factors' on page 18of the Prospectus.

The Equity Shares have not been and will not be registered under the United States Securities Act, 1933, as amended ("the Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S promulgated under the Securities Act ("Regulation S")) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold only outside the United States and only to non-U.S. persons in reliance on Regulation S. Each purchaser of Equity Shares will be required to represent and agree, among other things, that such purchaser is a non-U.S. person acquiring the Equity Shares in an "offshore transaction" in accordance with Regulation S.