The deal, valued at ₹871 crore, is expected to be completed within 30 days as per the terms of the Letter of Intent (LOI).
The full electrification of the LMG-BPB section falling under the Lumding division of NFR, is a turnkey project.
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As of 3:36 pm, The retail Investors portion was subscribed 1.62 times, the NII portion was subscribed 2.01 times.
It further stated that a formal notification recognizing the business as the victorious bidder is expected shortly.
All of the qualified institutional buyers (QIBs) portion and 69% of the non-institutional investors (NIIs) segment are booked.