New Delhi: The initial public offer of railways consultancy firm RITES will hit the market on Wednesday.  The government has set a target of raising Rs 80,000 crore through PSU disinvestment in the current fiscal. This is lower than Rs 1.03 lakh crore raised in last fiscal.


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Here is all you need to know about RITES IPO


  • RITES would be the first state-owned firm to hit the IPO market in the current fiscal.
  • The government aims to garner about Rs 460 crore through the share sale
  • The price band for the issue has been fixed at Rs 180-185 a share.
  • The government is selling 12 percent stake or 2.52 crore equity shares, including 12 lakh shares to employees.
  • The IPO would open for bids on June 20 and close on June 22.
  • At the upper end of the price band of Rs 185 a scrip, the IPO would fetch around Rs 460 crore to the exchequer.
  • The proceeds from the offer will go to the government of India.
  • The paid-up share capital of RITES currently stands at Rs 200 crore.
  • The government holds 100 percent stake in the company.
  • RITES equity shares are proposed to be listed on BSE and NSE.
  • Elara Capital India, IDBI Capital Markets & Securities, SBI Capital Markets and IDFC Bank are lead managers to the issue.
  • Link Intime India Private Ltd is the registrar.