Brokerages give thumbs up to RITES, Fine Organic IPOs

Two companies — Oleochemical-based additive manufacturer Fine Organic Industries and railways’ consultancy firm RITES — have hit the primary market on Wednesday to raise about Rs 600 crore and Rs 460 crore, respectively.

Most of the domestic brokers have recommended subscribing to RITES initial public offering (IPO), citing reasonable valuations.

But analysts are divided on the Fine Organic’s IPO with many of them recommending to subscribe to the issue only with a long-term investment horizon as the valuations are in line with that of the only listed peer, Galaxy Surfactants.


Here is what brokers have to say on the two IPOs:
RITES

Fine Organic Industries