Moneycontrol
Last Updated : Jun 29, 2018 01:24 PM IST | Source: Moneycontrol.com

After stellar response to IPO, RITES shares to list on July 2

The company after consultation with book running lead managers has fixed final issue price at Rs 185 per share.

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Answer: Duronto Express.
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Railways consultancy firm RITES, the first state-owned firm to hit the IPO market in the current fiscal, is going to list its equity shares on the BSE and NSE on Monday, July 2, 2018.

The company after consultation with book running lead managers has fixed final issue price at Rs 185 per share.

Last week the Rs 466-crore initial public offer had garnered strong investor demand, with the issue getting oversubscribed 67.24 times during June 20-22.

The category set aside for qualified institutional buyers (QIBs) was subscribed 71.72 times, non-institutional investors 194.56 times and retail investors 15.74 times.

The price band for the issue was fixed at Rs 180-185 per share. The issue had consisted of offer for sale of 2.52 crore equity shares by the government.

RITES is a wholly owned government company, a Miniratna (Category – I) Schedule 'A' public sector enterprise. It is a leading player in the transport consultancy and engineering sector in India and the only company having diversified services and geographical reach in this field under one roof, as per IRR Report.

Elara Capital (India), IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets were booking running lead managers to the issue.
First Published on Jun 29, 2018 01:23 pm
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