Comments
The initial public offering of railways consultancy firm RITES has received an overwhelming response from retail investors on Wednesday, the first day of the issue.
Though the retail portion was subscribed 1.64 times, the overall issue was subscribed only 60 per cent.
The ₹466-crore IPO received bids for 1.50 crore shares, against the total issue size of 2.52 crore, according to NSE data. The price band for the issue has been fixed at ₹180-185 a share.
The category set aside for QIBs was subscribed just 2 per cent, while non-institutional investors’ portion received 19 per cent.
The IPO will close on Friday.
Meanwhile, the ₹600-crore IPO of Fine Organic Industries received bids for 12 per cent on the first day.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.