RITES IPO subscribed 60% on Day 1 of bidding
The share sale to raise about Rs 466 crore got bids for 1,50,44,560 shares as against total issue size of 2,52,00,000 shares, according to NSE data.
The category set aside for qualified institutional buyers (QIBs) was subscribed 2 per cent, non-institutional investors 19 per cent and retail investors 1.64 times.
RITES is the first state-owned firm to hit the IPO market in the current fiscal.
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