The IPO of Rites Ltd opens on June 20th and closes on June 22nd. The company is offering shares in the price band of Rs .180 to Rs. 185.
About Rites Ltd
RITES Ltd, a Government of India Enterprise was established in 1974, under the aegis of Indian Railways. It is primarily engaged in consultancy across transport, infrastructure and related technologies. It provides a range of services such as techno-economic feasibility studies & preparation of detailed project reports, design engineering activities, procurement assistance, project
management consultancy activities etc. It has experience spanning experience spanning 43 years and have undertaken projects in over 55 countries including Asia, Africa, Latin America, South America and Middle East regions.
The orderbook of the company stood at Rs 4,800 crore as of March 2018.
Purpose of the issue
The entire proceeds of the issue will go to govt. The IPO is necessitated in part to meet the disinvestment target of the govt.
Shareholding pattern
| Pre issue | Post issue | |||
|---|---|---|---|---|
| Promoter | 20,00,00,000 | 100% | 17,48,00,000 | 87% |
| Others | 0 | 0% | 2,52,00,000 | 13% |
| Total | 20,00,00,000 | 100% | 20,00,00,000 | 100% |
Issue details
The issue consists of an offer for sale (OFS) of 2.52 crore shares.
IPO schedule
Issue opens - June 20th
Issue close - June 22nd
Issue size - ₹ 466 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 80 shares
Basis of allotment - 28 June
Refunds - 29 June
Credit of shares - 2nd July
Listing 3rd July
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