The company’s Rs 466-crore IPO, which ran between June 20 and 22, was subscribed 67 times.

Growth visibility helped the IPO of Fine Organic, said analysts.

The issue received bids of 1,69,25,23,520 shares against total issue size of 2,52,00,000.

RITES is the first state-owned firm to hit the IPO market in the current fiscal.

The price band of the IPO has been set at Rs 180-185 per share with face value of Rs 10.

RITES initial public offering (IPO), citing reasonable valuations.

Most brokerages covering the IPO have assigned ‘subscribe’ rating to the issue.

All brokerages covering the IPO have assigned ‘subscribe’ rating to the issue.

After the RITES issuance, the government will move forward with the listing process of the two PSUs.

At the upper end of the price band of Rs 185 a scrip, the IPO would fetch around Rs 460 crore to the exchequer.

Through RITES IPO, the government plans to sell 12 per cent stake to raise an estimated Rs 600 crore.

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RITES, the technical wing of the Indian Railways, is all set to hit the market in September.