The initial public offer of RITES was subscribed 32.8 times so far on Day 3. The ₹466-crore IPO received bids for 82,66,51,840 shares, against the total issue size of 2.52 crore, according to NSE data as of 4.30 pm local time.
The portion reserved for retail investors has received bids for 3.97 times; as against an offer for 84 lakh shares, retail investors have so far bid for about 3.30 crore shares.
The category set aside for qualified institutional buyers was subscribed 49.25 times; as against an offer for 1.2 crore shares, QIBs have so far bid for about 59.10 crore shares.
Non-institutional investors’ portion was subscribed 55.93times; as against on offer for 36 lakh, they have bid for 20.13 crore shares. Portion reserved for employees received bids for 8.8 lakh shares as against an offer for 12 lakh.
The issue closes for subscription today. The railways consultancy firm has fixed the price band at ₹180-185 a share.