RITES IPO: Issue subscribed over 66.5 times on Day 3

The issue of RITES was subscribed 67 on the third day its initial public offering (IPO) on Friday.

The issue received bids for 161.73 crore shares against the issue size of 2.52 crore shares, as of 3:45 PM on June 22, 2018.

The segment meant for qualified institutional buyers (QIBs) has subscribed 31.6 times, non-institutional investors 191.5546 times and retail investors 13.42 times.

Price band for the issue has been fixed at Rs 180-185 per share.

Elara Capital India, IDBI Capital Markets & Securities, SBI Capital Markets and IDFC Bank are book running lead managers to the issue. Link Intime India is the registrar.

The company's shares are proposed to be listed on BSE and the NSE.