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The Centre proposes to sell 2.50 crore shares of RITES, representing 10 per cent of the total paid-up equity capital of the company, to non-retail investors on Thursday, and on Friday to retail investors, through the offer-for-sale mechanism on the BSE and the NSE.
The issue, with a base size of ₹733.50 crore, has an option to additionally sell up to 1.25 crore shares in case of oversubscription.
The floor price has been fixed at ₹293.50. Marketmen will closely monitor the response to the issue.
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