RITES shares traded on on BSE at Rs 204 each, with a gain of 6.45% with respect to opening price.Government-run consultancy company RITES on Monday made its stock market debut as it listed at Rs 190 per share, which was at a premium of 2.70 per cent over its issue price of Rs 185.
At 10:46 am, RITES shares traded at Rs 201.25, with a gain of 5.92 per cent on the National Stock Exchange (NSE).
On the Bombay Stock Exchange (BSE) at the same time, RITES shares traded at Rs 204, with a gain of 6.45 per cent with respect to its opening price of Rs 190.In intra-day trade on the NSE, RITES shares hit a high of Rs 206.70 and a low of Rs 190.
On the BSE, RITES shares hit a high of Rs 206.30 and a low of Rs 190.(: Varroc Engineering IPO Subscribed Over Three Times On Last Day - 5 Things To Know)RITES, which was earlier known as Rail India Technical and Economic Service, is a multi-disciplinary consultancy organization in the fields of transport, infrastructure and related technologies.
It was established in 1974 under the aegis of the Indian Railways and was incorporated as a public limited company under the Companies Act, 1956.RITES had issued shares to the public in an initial public offering or IPO between June 20 and June 22.
The price band of RITES IPO was between Rs.
180 and Rs.
185.
The floor price was 18 times of the face value of the equity shares, and the cap price was 18.5 times of the face value of equity shares.The book running lead managers for RITES IPO were Elara Capital (India) Private Limited, IDBI Capital Markets Securities Limited, IDFC Bank Limited, SBI Capital Markets Limited.RITES IPO was valued at Rs.
466 crore.