RITES And Fine Organics Debut At 2.7% And 4% Listing Gains Respectively

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    RITES IPO issue that received an overwhelming investor response made its debut on the bourses in today's trade with a premium of 2.7% over the issue price i.e. at Rs. 190.
    The public sector construction consultancy firm was the first state-owned company that floated the IPO offer this financial year. Through the offer for sale offer government aimed at divesting close to 12.6% stake in it. This year the government aims to garner a total of Rs. 80,000 crore from its divestment plans in public sector undertakings.

    RITES And Fine Organics Debut At 2.7% And 4% Listing Gains Respectively
    RITES (Rail India Technical and Economic Service) is an engineering consultancy in the field of transport infrastructure, established in 1974. It was awarded the Miniratna (Category I) status in 2002. The company has diversified service and geographical experience handling projects in over 55 countries in Asia, Africa, Latin America and South America.

    Another firm Fine Organics also hit the bourses with 4% gains on the NSE at Rs. 815.

    Fine Organic is the largest manufacturer of oleochemical-based additives in India

    Goodreturns.in

    Read more about: ipo listing rites fine organics
    Story first published: Monday, July 2, 2018, 10:30 [IST]
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