RITES IPO oversubscribed 2.73 times so far on last day of issue

The category set aside for qualified institutional buyers (QIBs) was subscribed 0.02 times on the NSE, non institutional investors 0.35 times, and retail individual investors 2.34 times.

The initial public offer of railways consultancy firm RITES was oversubscribed 2.73 times till 10.45 am on the last day of the issue.

The share sale to raise about Rs 466 crore received bids for 6,86,77,280 shares against the total issue size of 2,52,00,000 shares, as per NSE data.

The category set aside for qualified institutional buyers (QIBs) was subscribed 0.02 times on the NSE, non institutional investors 0.35 times, and retail individual investors 2.34 times.

The price band for the issue has been fixed at Rs 180-185 per share. RITES Ltd is the first state-owned firm to hit the IPO market in the current fiscal.

The IPO will close today. Elara Capital (India), IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets are managing the issue.