Devdiscourse
Development News Edition
Give Feedback
write for Us

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.


PTI India
Updated: 20-06-2018 18:32 IST

The initial public offer of railways consultancy firm RITES was subscribed 60 per cent on the first day of the three-day bidding today.

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.

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

RITES is the first state-owned firm to hit the IPO market in the current fiscal.

The IPO will close on June 22. Elara Capital (India), IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets are managing the issue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : India

POST A COMMENT