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Home Banking & Finance

Railway attracts strong IPO interests

Fiinews by Fiinews
June 23, 2018
in Banking & Finance, Infrastructure, Investment, Projects
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Govt expects to raise Rs.466 crore from RITES

 

 

Railway consultancy RITES Ltd’s initial public offer was subscribed 66.75 times as the government expects to raise Rs.466 crore from the issue.

The government is selling 12.6% stake or 2.52 crore equity shares, including 12 lakh shares to employees.

The Government is expected to raise Rs.466 crore from the RITES issue. The issue received bids for 168.20 crore shares worth Rs.30,630 crore against the issue size of 2.52 crore shares worth Rs 466 Crore.

The segment meant for qualified institutional buyers (QIBs) was subscribed 71 times, non-institutional investors 194 times, while the retail investors segment was subscribed over 13 times.

Price band for the issue has been fixed at Rs.180-185 per share, with a discount of Rs.6 for retails investors and employees. fiinews.com

Tags: RITES Ltd
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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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