INSUBCONTINENT EXCLUSIVE:
The RITES IPO (initial public offering)
By 5 pm, the issue was subscribed up to 60 per cent, data on NSE revealed
At the cap price, RITES IPO is valued at Rs 466 crore, while it's valued Rs 453 crore at the floor price
RITES Ltd is a Government of India (GoI) enterprise, which was established in 1974 under the aegis of Indian Railways
RITES was incorporated as a public limited company under the Companies Act, 1956
It is governed by a board of directors including persons of eminence from various sectors of engineering and management
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure and related technologies.RITES IPO: Five
RITES IPO opened on Wednesday, and will close on June 22
The book running lead managers are Elara Capital (India) Private Limited, IDBI Capital Markets Securities Limited, IDFC Bank Limited, SBI
Capital Markets Limited.2
RITES IPO's price band is between Rs 180 and Rs 185
RITES IPO's floor price is 18 times of the face value of the equity shares, and the cap price is 18.5 times of the face value of equity
The bids can be made in a lot of 80 equity shares
The minimum subscription amount for retail investor is Rs 2,00,000.4
The basic EPS (earnings per share) for the issue (at the IPO's price band) stands at 17.74 for the fiscal 2017, at 14.10 for fiscal 2016,
and at 15.54 for fiscal 2015.5
The return on net worth (RoNW) for RITES shares is 17.41 for 2017 fiscal, 15.18 for 2016 fiscal and 18.61 for 2015 fiscal
The net asset value per equity share is 101.89 (standalone) and 102.06 (consolidated) as on March 31, 2017.
