This decade-old blog is formed for sharing useful info from financial world free of cost .All posts here are for reference purpose only. It is advisable to study and learn the investment process and decision making criteria yourself .Users are advised to rely on their own judgement or investment advisor when any making investment decisions. Any investment decision should be taken with your own analysis and risk. The blog is aimed to promote the awareness of stock markets among retail investors.
Saturday, June 16, 2018
RITES IPO Review
In the first divestment of the current fiscal, the government is selling 12% stake in railway consultancy firm RITES to mobilise about Rs 460 crore, with the price band fixed at Rs 180-185 per share. All retail investors and employees of the company will get a Rs 6-per-share discount on the final IPO price. The IPO will open on June 20 and close on June 22, the company said on Tuesday.
In February last year, finance minister Arun Jaitley had announced in the Budget that the government would divest stakes in at least three railway assets which included IRCTC, IRFC, IRCON. RITES was added to the list of divestment target later on. Even Rail Vikas Nigam, another PSU under the railways may soon launch its IPO, having obtained the regulatory nod last month, merchant bankers said. Through the RITES IPO, the government is selling 2.52 crore equity shares, including 12 lakh shares reversed for its employees. For fiscal 2019, the government has set a divestment target of Rs 80,000 crore. In fiscal 2018, the government had mobilised a little over Rs 1 lakh crore through PSU sell-offs.
RITES Limited is promoted by President of India. The company is a Gov. of India Enterprise. They work under Indian Railways. RITES Ltd is a 9001:2008 company and work a multi-disciplinary consultancy organization in transport, infra and related technologies field. They work a links with local consultants for overseas projects. They are expertise in quality assurance and transport infrastructure consultancy provider.
They have clients which includes Indian Railways, NTPC, SAIL, Rashtriya Ispat Nitam Limited, HPCL, Bharat Coking Coal Limited, Metro Link Express for Gandhinagar and Ahmedabad Company Limited (MEGA), Airports Authority of India, Titagrah Wagons, Cimco Ltd, Rajdeep Buildcon Pvt Ltd, Geokno India Pvt Ltd, ARK Services and more. The company looks good and it will be good to see how it will perform as other government companies not able to perform well except Midhani Ltd. RITES Ltd IPO Review:
Disclaimer : All information given here is for information purpose only. Users are advised to rely on their own judgement or investment advisor when making investment decisions. This blog is not liable and take no responsibility for any loss or profit arising out of such decisions being made by anyone acting on such advice.
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